JustCo
 | A major contributor to this article appears to have a close connection with its subject. (August 2018) |
Headquartered in Singapore, JustCo was founded in 2011 by Kong Wan Sing, its current CEO, alongside co-founders Liu Lu and Kong Wan Long,[1] as a response to increasing demand for flexible workspaces. [2]
 The company's logo | |
| Company type | Flexible Workspace Provider |
|---|---|
| Founded | 2011 |
| Founder | Kong Wan Sing |
| Headquarters | Singapore |
Key people | Kong Wan Sing ( Founder and CEO ) |
| Products | Flexible workspaces for entrepreneurs, startups, small and large businesses |
| Brands | JustCo |
| Services | Shared workspaces, coworking spaces and related services |
| Website | www |
Milestones
 | This section reads like a press release or a news article and may be largely based on routine coverage. (November 2018) |
Between 2014 to 2019, JustCo embarked on its expansion into key cities across Asia Pacific, such as Shanghai, Bangkok [3], Melbourne, Sydney and Seoul [4]. By Dec 2019, JustCo expanded its presence to eight cities, including Singapore, Shanghai, Bangkok, Jakata, Seoul, Sydney, Melbourne and Taipei – with 40 locations across Asia Pacific. JustCo members automatically have full access to all centres worldwide. [5][6]
JustCo is backed by Singapore’s sovereign wealth fund GIC, multi-national property company, Frasers Property Limited [7], as well as Japanese real estate giant, Daito Trust [8][9]. These partnerships will support JustCo's continued focus on ramping up technology solutions, and enhance service offerings to facilitate collaboration and networking opportunities [10] across Asia Pacific.
Following the US$177 million joint investment in JustCo from GIC and Frasers Property Limited in May 2018, JustCo expanded its network from 14 centres to over 40 across eight cities today [5]. In Nov 2019, the additional US$74 million funding provided by Daito Trust to open a new Japan joint venture with JustCo signals the opening of a new market for JustCo in Japan, with an aim to open seven to nine centres in Tokyo between 2020 and 2021[11].
Beyond a physical space, JustCo aims to build the 'Future of Work', by creating a smart digital workplace to enhance experiences and encourage collaborations among members [12][13] In 2019, JustCo launched its very first smart co-working centre in South Korea, called JustCo Tower, a 16-storey building in Seoul's Gangnam business district. [14]
JustCo aims to revolutionise how people work by empowering its ever-growing community with exceptional flexibility, opportunities and positive experiences. [15]
JustCo Labs
JustCo Labs is a platform for like-minded businesses and individuals to innovate and collaborate within the JustCo Community. [16]
For instance, the Lab-in-a-Box concept supports accelerators and innovation programmes across Asia Pacific. JustCo works with start-ups, accelerators, incubators, government agencies, and corporates – including Budding Innovations (BI) and Korea Innovation LaunchPad in Singapore Association (KILSA) [17][18]. Other JustCo Labs initiatives include the SME Regional Accelerator and Corporate Innovation Lab.
These initiatives were established to support start-ups on their market expansion across the region. JustCo Labs helps members identify potential business investment targets and provide mentorship to these early-stage start-ups [19].
The Verizon Innovation Community managed by JustCo is an innovative community space that encourages tech innovation. This joint project provides access between JustCo’s tech communities and Verizon [20].
The Future of Work
JustCo uses technological solutions such as card-free access, digital navigation in the building, pre-ordering of F&B items at the in-house café [21] across its centres via the JustCo mobile app [22].
JustCo Tower, the 16-storey building in Seoul’s Gangnam Business District first introduced these solutions and technologies [21]. JustCo at The Centrepoint in Singapore (opening Q3 2020) will also implement these technological solutions with the addition of a robot butler, cardless access with facial recognition capability and mobile payment services [23].
Members and visitors to JustCo centres internationally can use the JustCo to book meeting rooms, connect with like-minded individuals and businesses for collaboration opportunities, and search for relevant JustCo events and networking sessions to participate in [24].
Strategic Investors and Funding
Strategic partnerships were established with conglomerates across the region, including GIC and Frasers Property in Singapore, and Sansiri in Thailand, Gunung Sewu in Indonesia, as well as Japanese real estate giant, Daito Trust have been key to JustCo’s continued expansion in developing a co-working space platform across Asia. [7][25][26]
GIC, Frasers Property and Daito Trust
In May 2018, Singaporean sovereign wealth fund, GIC, mainboard-listed Frasers Property and JustCo jointly invested US$177 million to develop a co-working space platform across Asia Pacific.[27][10][28] The investment of US$177 million by GIC and Frasers Property in 2018 has allowed JustCo to gain a stronger foothold in each new market, as well as ramp up tech-enabled solutions and services to facilitate collaboration and networking opportunities amongst its growing base of community members. [29]
In December 2019, JustCo secured a new market Joint Venture with Daito Trust, a Japanese construction and real estate giant. The combined investment of US$74 million in JustCo and in the Joint Venture will drive JustCo’s expansion in Japan, making this the 8th market entrant in Asia Pacific. [9] JustCo has plans to open seven to nine centres in Tokyo in the next two years. [30][8]
Sansiri (Thailand)
In October 2017, it was announced that JustCo closed a Series B round at US$200 million valuation after receiving $12 million funds from Thailand's leading real estate developer, Sansiri. With Sansiri’s in-depth experience and extensive network in Asian markets, it was instrumental in helping JustCo pave its way for accelerated growth in Thailand and across Asia Pacific. [27]
Gunung Sewu (Indonesia)
In December 2017, JustCo announced a joint venture in Indonesia with one of Asia's largest business players, Gunung Sewu. The first JustCo co-working space in Indonesia has been secured at one of the premium skyscrapers developed under Gunung Sewu's property business line. For instance, one of JustCo's centres is housed in Sequis Tower, a premium skyscraper located in Jakarta.[31][32]
Partners
Over the years, JustCo has established relationships with partners such as Dropbox, PwC’s Venture Hub, Amazon Web Services, Alibaba Cloud, HubSpot, HREasily, Stripe Payments and Hertz.[33]
List of JustCo Centres Worldwide
| Country / Cities | Locations |
| Singapore |
|
| China, Shanghai |
|
| Thailand, Bangkok |
|
| Indonesia, Jakarta |
|
| South Korea, Seoul |
|
| Australia, Sydney |
|
| Australia, Melbourne |
|
| Taiwan, Taipei |
|
References
- ^ "JustCo plans to dominate Asia". Retrieved 2018-06-22.
- ^ "Working Hard, Or Hardly Working: Are Coworking Spaces As Good As They Look?".
- ^ "Working better together".
- ^ "Singapore's JustCo expands into Melbourne, Sydney and Seoul".
- ^ a b "JustCo continues regional expansion despite more cautious sentiments".
- ^ "JustCo to open 'smart' centre at The Centrepoint".
- ^ a b "Co-working firm JustCo and sovereign wealth fund GIC team up with $177m mega-investment".
- ^ a b "Co-working space start-up JustCo gets $101 mil investment from Japan's Daito Trust".
- ^ a b "JustCo to expand to Japan with US$74m investment from Daito Trust".
- ^ a b Mui, Rachel. "Frasers Property, GIC, JustCo invest US$177m to develop co-working space platform across Asia". The Business Times. Retrieved 2018-06-22.
- ^ "Co-working is changing commercial real estate, says JustCo".
- ^ "Asia's Largest Co-Working Group Ramps Up Australian Expansion".
- ^ "On The Brink And Back: What Coworking Space JustCo Has That Others Don't".
- ^ "Singapore's JustCo to lease 16-storey Seoul tower, seeks new markets".
- ^ "JustCo Expands Network of Co-working Centres in Shanghai with Newly Secured Space at LL Land Tower".
- ^ "Novum Global Ventures Announces Collaborative Partnership With JustCo Labs".
- ^ "[스타트업 분투기⑤-1] '그랩'의 땅 싱가포르…돈·인재·네트워크 다 갖춘 스타트업 '성지'".
- ^ "Are corporate accelerator programs becoming redundant?".
- ^ "Co-working space provider JustCo Lab, VC firm Trive unveil incubator programme for early-stage startups".
- ^ "Verizon launches first Asian innovation-community space in Singapore".
- ^ a b "JustCo to lease 16-storey building for fourth co-working centre in Seoul".
- ^ "新加坡知名電商 大開箱! / 共享辦公 新加坡新潮流! / 電競消費力 "泰"驚人! / 外派東南亞 大學新鮮人雀躍". Archived from the original on 2020-03-26.
- ^ "JustCo to open new co-working centre at The Centrepoint in 3Q2020".
- ^ "Office 2.0: designing data-driven workspaces".
- ^ "Singapore's co-working space firm JustCo plans 100 centres in Asia by 2020; eyes deals".
- ^ "JustCo, Gunung Sewu in joint venture to develop co-working in Indonesia".
- ^ a b Setboonsarng, Chayut. "Singapore's co-working space firm JustCo plans 100 centres in Asia..." U.S. Retrieved 2018-06-22.
- ^ hermes (2018-05-17). "Frasers Property, GIC and JustCo in $238m tie-up". The Straits Times. Retrieved 2018-06-22.
- ^ "GIC, Frasers Property, JustCo invest S$237m to develop co-working platform in Asia".
- ^ "分析师：将有更多整合 共用工作空间市场明年增长料放缓".
- ^ "JustCo, Gunung Sewu to form co-working space joint venture - Reuters". Retrieved 2018-01-10.
- ^ "JustCo, Gunung Sewu in joint venture to develop co-working in Indonesia". Digital News Asia. 2017-12-22. Retrieved 2018-01-09.
- ^ "Singapore: JustCo partners PwC Venture Hub; AIRmaker-Arrow Electronics pact - DealStreetAsia". www.dealstreetasia.com. Retrieved 2017-06-07.