MySpotit, an Estonian platform which provides companies with mediation service for meeting spaces outside their own offices, raised €100K from investors. The funds will be used on product development and to enter new markets. The company’s investors include Martin Villig, co-founder of Bolt, and Robert Kitt, ex-CEO of Swedbank Estonia.
“We are opening our service in Riga in mid-January and are planning to enter the market of Copenhagen as early as in the second quarter of 2020. In addition to mediating meeting spaces, we have started product development in a new direction to provide executives with a tool for more effective and meaningful planning of their meetings,” explained Hardi Kinnas, co-founder of MySpotit.
Martin Villig, co-founder of the international ridesharing platform Bolt, says he decided to invest because of MySpotit founders’ lengthy experience in corporate event organisation and their clear goal to forever change the world of corporate meetings.
“Bolt is a fast-growing company, so we need efficient meetings and, consequently, constantly need various spaces: MySpotit makes booking these very easy. In addition, the platform for sharing meeting spaces is a good solution for the companies who find that their own meeting rooms are often empty; they can be used for generating income in exactly the same way as Bolt allows extra income to be made by using your own car or Airbnb helps you share your property with other users for money,” Villig noted.
Ex-CEO of Swedbank Estonia, Robert Kitt, said that ineffective meetings cost corporations thousands of euros per year. Leaders of large teams are worried about the time and money wasted on meetings, but no alternative more efficient management and collaboration method has been devised so far.
“I see MySpotit’s potential in the fact that the portal does not only mediate rooms but also specialises in improving the content planning of the meetings and provides executives with opportunities for creating better and more efficient solutions for their teams in the future," said Kitt, explaining why he decided to participate in the investment round.
Other well-known figures who took part in the first investment round in addition to Martin Villig and Robert Kitt were startup entrepreneurs and investors Mikko Silventola (Bolt’s first investor, Frontier), Taavi Tamkivi (Skype, Transferwise, Salv), Gert Jostov (Technopolis Ülemiste), Martin Otsa (East Capital Baltics) and Asso Lankots (Leibur, Lantmännen Unibake).