Digital Innovation in Real Estate Technology: LANE
By Shaylyn Costello
PropTech startup Lane is transforming the workplace by developing software to create a frictionless user experience.
Lane works to streamline office space communication and information by connecting programs, building services and amenities for users — all achieved through a software platform and mobile application. “We get to touch every part of the workplace experience, and that’s a huge ecosystem and a huge opportunity,” said Robinson.
Lane’s co-founder and CEO Clinton Robinson told MapYourProperty what inspired the conception of the company, saying that the workplace experience was technologically behind compared to the consumer world.
“If you look at the workplace, everything’s fragmented there’s friction everywhere. We’re always wondering why that is and how can we fix that. And what would be the impact if… the 100 million people who go to work every day in the U.S. and Canada could save 20 to 30 minutes every day, or have a better experience, or be more easily connected to what they need to do? The impact of that would be huge,” Robinson told MYP.
This, combined with the realization that countless multi-billion-dollar office buildings lacked the advanced technology to improve the workplace’s user experience, led to the birth of the company.
Beginning with a small team of just four people, including Robinson’s co-founder Kofi Gyekye, the company now has a head office based in Toronto, as well as offices in New York and Colorado.
In recent news, Lane has partnered with flexible workplace provider Convene, a New York-based company that operates a network of hospitality-driven locations in office buildings. This strategic partnership will further improve workplaces for landlords, tenants, and employees through the use of Convene’s network of modern office spaces as well as their expertise in hospitality, design and technology.
Access to workplace-related data makes an office building accessible and discoverable for its users, and is going to make significant impacts on the commercial Real Estate market.
“The office Real Estate world has never had real-time data and analytics about what people use, what people like, what time people show up [to work], who’s in the building right now… And having access to all that data is going to shift the entire industry. Because now [landlords] are going to understand their clients better and be able to provide the actual services, amenities, programs, events that they’re looking for,” said Robinson.
Robinson also predicted that access to Lane’s data will cause monetary shifts in the industry in the near future, particularly for those who want to refinance or sell a commercial building. Data and analytics related to the tenants and user experience will become available to potential buyers, impacting the market and potentially becoming the new norm for buyers.
While Lane is already taking huge strides in the world of commercial Real Estate, Robinson shared that the company is only going to continue their upward momentum. “Real Estate is one of the biggest asset costs in the world. It’s one of the last to be disrupted. There’s still so much opportunity in this space to make a new product, disrupt how something’s doing, [and] make things more efficient,” he said.
