Reef.Global, which is based in Sheffield, is seeking £350K investment to further grow its revolutionary Third Workspace App.
Reef.Global will launch in September and connect businesses and hospitality venues such as cafes, hotels, pubs and restaurants across the world via a unique app. Demand for cost-effective workspace is increasing exponentially and Reef will help to plug the gap between supply and demand by connecting companies and remote workers with third workspaces via an on-demand real-time service.
Hybrid working has become a buzz word of the Pandemic with 23.9million people having worked remotely during lockdown. While new Government guidelines have scrapped the ‘work from home’ message, 86 per cent of the UK’s largest employers are now looking to introduce a hybrid working model. Research shows, however, that 48 per cent of people don’t have a suitable place to work at home.
Via the Reef.Global app, employers can gain easy access to low cost third workspace provision, creating an agile team that can also benefit from an encrypted internal company chat facility. The hospitality venues will benefit from additional revenue at potentially quieter times. They have direct control of what space they offer and when and can provide discounts and offers for workers to take advantage of.
There are already hospitality venues including Holiday Inn affiliated to the Reef.Global app and the company is seeking an investment of £350,000 to further roll out the third workspace programme, growing the team and developing customer acquisition. Funding will also allow them to further invest in tech to enhance the revolutionary app.
Already working with On-Trade Consulting to grow their venue count, James Coughlan, CEO and founder of Reef.Global feels it’s the ideal time to bring in investors.
James said: ‘By 2024, five million people are expected to be using co-working spaces with an average spend of £180 a month per person, whereas this will cost just £8.99. Reef are working ahead of the trends in order to create a robust service that bridges the gap between office and remote working.
“We want to enable a workable hybrid model that allows a company to grow while providing a working environment that supports its employees’ mental wellbeing.
‘Reef is unlike any of the other solutions out there in that it is the only remote working solution focusing on an emerging commercial offer with a B2B monthly subscription revenue stream coupled with unrivalled user benefits for employers and their staff.
“The app also allows us to provide additional income streams for hospitality venues too as they can offer exclusive partner discounts and offers via Reef. We have ambitious recurring revenue plans, increasing to £10million by year 5, so it’s a brilliant opportunity for investors to join at ground-level.”