The company prides itself on employing their workers full-time instead of on a freelance basis
Office management tool Managed by Q has raised $30.5 million according to a filing with the SEC. The round follows a $25 million Series B led by GV and Kapor Capital, and a June 2015 Series A led by RRE Ventures.
Q fancies itself as the go-to service for anything that has to do with the office.
The SEC filing specifies they are looking to raise another $9.5 million. Slightly more than $30.5 million has come in from a total of 14 unnamed investors according to the documents filed by CEO Daniel Teran on December 12.
They charge an hourly rate for service that might include cleaners, handymen, and other assistants. They can schedule cleaning and maintenance work, as well as deliveries, through the Q platform.
Q makes a big deal out of its non-use of freelancing. They offer “competitive pay, health benefits, 401k, and stock options,” reiterating their use of full-timers by saying on their website that “a happy team at Q makes a happy office for you.”
Clearly this kind of service means big money, as competitor Handy has raised over $110 million in venture capital from Fidelity Investments, TPG Growth, and General Catalyst among others.
The New York Times profiled the company back in March, describing their reach in the Big Apple as immense. Outside of newer and more premium office space (Class A), Q has grown to service 1 percent of the city’s remaining offices.
Previous investors include 14W, Bjarke Ingels, Duke Management Company, Fabrice Grinda, FJ Labs, Flight Ventures, Gary Vaynerchuk, Greycroft Partners, GV, and Homebrew among many others.
The company has celebrity backing with Jessica Alba’s participation in the company’s Series A. Alba has personally participated in only two other startup rounds: Honor’s $20 million Series A in April 2015 and Headspace’s $34.3 million Series A in September 2015.
They offer their services in San Francisco, Oakland, Chicago, LA, and NYC.