SINGAPORE - Media OutReach - 11 June 2019 - GorillaSpace , the Singapore-based onlinemarketplace for workspace, announced that it has raised an undisclosed seedround of investment led by top Japanese real estate developer Mitsubishi EstateCo., Ltd. (MEC), with additional participation from a consortium of investors,including Silversea Media Group, a leading immersive media solution provider inAsia.

The GorillaSpace team aims to build the marketplace of choice for workspace.

This investment from MEC marks the first proptech investmentoutside of Japan, as well as the first seed level investment for the propertygiant. The investment from MEC is part of their initiative to discover newbusiness projects and to develop synergy with existing businesses. MEC hasalready committed 10 billion yen (US$100million) to this purpose, of which the GorillaSpace investment is part.

"We believe in thefounders who have deep commercial real estate experience and technicalcapabilities. GorillaSpace represents a fresh and exciting way to showcaseoffice spaces and help businesses find workspaces more efficiently." saidKyota Kobayashi, the General Manager of MEC's Business Creation Department.

Foundedin 2018 by Ben and Ginny Eckblad, GorillaSpace empowers businesses to moreeasily find and lease office space, coworking spaces and serviced offices. Theplatform is the first property marketplace to offer both long-term officespaces and flexible workspace options, as well as a hybrid of the twocategories - the so-called "Core and Flex" that is gaining increasing attentionin corporate real estate circles.

GorillaSpaceis creating an ecosystem that serves businesses looking for space, spaceoperators, landlords, as well as brokers. GorillaSpace is unique in itspartnership approach with brokers.

"We believe brokers play an important role indelivering the more complex transactions, where expertise in negotiations andin the preparation of documentation is a requisite," said Ben Eckblad,Founder and CEO of GorillaSpace. "By thesame token, simple transactions with flexible space operators and requiringonly a license agreement can be concluded online."

Keyadvantages of the platform for businesses include:

●       Verified Listings
Workspaces offered on the platform are verified in-person by a dedicated teamto protect users from wrong information about the space's price, area andavailability, as well as fraudulent advertisers.

●       360° Panoramas, Videos, 3D/VR Virtual Tours &High-Definition Images

Users can experience each workspace through highdefinition images, 360° panoramas, videos and 3D virtual tours, enabling fasterselection of spaces before making the physical visits.

●       Smart Recommendation Engine

Unlike other workspace platforms that depend solely onsearch, GorillaSpace also offers a personalized and curated smartrecommendation engine to quickly match businesses with the right workspace fortheir needs. Using this solution, businesses can reduce up to 75 hours of theirsearch time.

"With the support of our strategic investors,we are able to accelerate the reach and scope of our online marketplace alwayswith the single focus to delight our users," said Ben. "The commercial property market isexperiencing a shift from multi-year office space leases to more flexibleoptions. Businesses want less commitment upfront and GorillaSpace helps themsee all available options . Businesses now have the choice of combining along-term lease together with flexible space to house specialised teams ortemporary additional headcount."

Inthe first four months of 2019, GorillaSpace has helped over 1,000 businessesfind solutions to their workspace needs. Since the end of 2018, GorillaSpacehas seen a 21.5% month-on-month growth in traffic to the website, as well as agrowth of over 30% in listings on the platform.

ChangHuanJian, from Funding Societies, found their workspace through GorillaSpaceand commented: "The space we found wasjust like the photos and 360° panoramas shown online. I was able to communicatethe shortlisted options with our co-founders.This service really saved us a lotof time and helped decision making."

About GorillaSpace

GorillaSpace is the marketplace of choice for workspace.Businesses use GorillaSpace to more easily find and lease office space,coworking spaces, serviced offices and other workspaces. Users can experiencethe workspaces via 360° panoramas, high resolutionphotographs and videos. The GorillaSpace leadershipteam has over two decades of experience in commercial real estate andtechnology. Our mission is to make it easy for all companies to find theperfect workspaces at every stage of their business growth.

About Ben & GinnyEckblad

Ben and Ginny first met at college some 20 years ago, when theywere both studying at the University of North Carolina at Chapel Hill, USA. Benbrings 20+ years of commercial office transaction experience as well as thevision on how GorillaSpace can help companies of all sizes with flexible spacerequirements. He brings tried and tested best practices from tech companies,bringing tech into real estate. In her previous work experience in a highlysuccessful FinTech company, Ginny was the go-to person to
start projects and quickly scale them globally. She is passionate aboutbuilding products and creating new businesses. Both founders are fluent inEnglish, French and Mandarin, with over two decades of experience working inGreater China, Europe and South East Asia.

About MEC

Mitsubishi Estate Co., Ltd. (MEC), listed in Tokyo StockExchange, is a leading international property development and investmentcompany with a substantial commercial and residential portfolio in Japan, whichincludes over 30 major buildings in the Marunouchi area, Tokyo's premiumcentral business district. MEC operates in Singapore through Mitsubishi EstateAsia Pte. Ltd. (MEA), its wholly owned subsidiary, to seek opportunities inAsia. MEA and other MEC bases in London and New York cover MEC's globaloperations as one team.

About Silversea MediaGroup

Singapore's Silversea Media Group (SMG) is a multi-nationaltechnology company offering immersive media solutions. SMG has a proventrack-record of deploying immersive and interactive virtual tour experiencesacross SE Asia, through strategic partnerships with top-tier real estateplayers across the region.