Emmett Cunningham, Noted Investor and Entrepreneur Joins SpaceBasic as Board Member and Investor
Bangalore, 25th July 2023 – SpaceBasic, a leading B2B SaaS company empowering universities to drive student success with a connected campus experience, is thrilled to announce the inclusion of Emmett Cunningham, former Senior Managing Director at Blackstone, to its board of directors. Emmett’s investment in SpaceBasic signals a strong vote of confidence in SpaceBasic’s vision and potential to transform university and campus living experiences on a global scale.
Drawing from over two decades of experience as an entrepreneur and investor, Dr. Cunningham has spearheaded multiple investments in technology and biotechnology. His expertise adds significant value and strategic insights to SpaceBasic. In light of his investment and appointment to the board, Emmett expressed his enthusiasm, stating, “I am excited to be part of SpaceBasic as both an investor and board member, as they strive to transform university and campus life experiences worldwide through their unique and powerful interface.” His fervor for SpaceBasic’s vision further bolsters the company’s potential to redefine higher education experiences on a global scale.
Over the last three months, SpaceBasic has achieved significant milestones, showcasing its dedication to streamlining campus operations. The company’s success includes successfully signing up over 50,000 students and establishing an impressive user base of 100,000, resulting in a remarkable 150% surge in revenue and user growth since 2022.These achievements highlight SpaceBasic’s commitment to providing automated campus housing, AI-driven digital cafeteria management, and data-driven insights, all of which contribute to a seamless and enhanced campus experience for its users.
Founded in 2018 by Madhavi Shankar and Indu Navar, SpaceBasic simplifies and optimizes essential spaces for colleges and universities. “During market research, we learnt that an overwhelming 80% of universities in India and Southeast Asia use little to no technology outside of the classroom. Campus operations, ranging from student housing to cafeteria management and access control, were being executed manually with fragmented data sources. The extensive reliance on manual processes also led to the handling of vast volumes of data each day. We knew there had to be a better way! This led to the launch of SpaceBasic,” said Madhavi Shankar, Co-Founder and CEO, SpaceBasic, Inc.
The AI-platform offers automated campus housing, digital cafeteria management, SpaceBasic Pay, smart ID cards, and a future marketplace for job fairs, internships, and placements. With SpaceBasic, students easily navigate the university experience, while faculty and staff have access to AI-driven insights from everyday tasks and communication, leading to 5x cost savings and 8x faster operations.
Speaking about SpaceBasic’s expansion plans, Madhavi said, “We are rapidly expanding in India and have successfully launched in the South East Asia market in early 2023, partnering with prominent universities.” With a market size of $5.8 billion in India and the SEA, growing at a 5% CAGR, SpaceBasic is well-positioned to capture the increasing demand for digitized campus operations and AI-driven decision-making.
As a women-led SaaS company, SpaceBasic is deeply committed to equal opportunities. The company actively participates in the ‘Pledge 1%’ movement, dedicating 1% of its profits, time, and software to invest in educating women every year.
Emmett Cunningham’s investment and strategic guidance position SpaceBasic to disrupt and transform the way universities traditionally operate. The company’s innovative solutions and unwavering commitment to student success are reshaping campus experiences, ultimately leading to improved outcomes for universities and their students.
