Industrious has successfully raised significant funding through multiple rounds, establishing itself as a key player in the coworking and private office space industry. The company offers flexible workspace solutions tailored to the needs of various team sizes, from startups to large enterprises.
Keep reading to delve into the details of Industrious's funding journey and the investors who support this dynamic platform.
What Is Industrious?
Industrious, founded in 2013, is a company that provides flexible coworking and private office spaces. The company is headquartered in New York City and was founded by Jamie Hodari and Justin Stewart.
Industrious offers a range of workspace solutions designed to support teams of all sizes, from startups to large enterprises. Their services include coworking memberships, private office memberships, and on-demand meeting rooms.
With over 160 locations in 65+ cities, Industrious employs a dedicated team to ensure a seamless experience for its members. The company is known for its all-inclusive amenities and move-in-ready offices.
How Much Funding Has Industrious Raised?
- Series D
- Amount Raised: $80,000,000
- Date: August 2019
- Motivation Behind the Round: To expand their footprint and enhance service offerings.
- Series C
- Amount Raised: $80,000,000
- Date: February 2018
- Lead Investors: Riverwood Capital
- Motivation Behind the Round: To scale operations and enter new markets.
- Series B
- Amount Raised: $62,000,000
- Date: March 2017
- Lead Investors: Riverwood Capital, Outlook Ventures
- Motivation Behind the Round: To support the acquisition of PivotDesk and expand locations.
- Series B
- Amount Raised: $37,000,000
- Date: September 2016
- Lead Investors: Outlook Ventures
- Motivation Behind the Round: To build out and open new coworking spaces across the U.S.
Total Amount Raised: $259,000,000
Current Valuation: $500M+ (~estimated)
Key Investors
- Riverwood Capital
- Details: Riverwood Capital is a private equity firm that focuses on high-growth technology and tech-enabled companies. They led the $25 million follow-on investment in Industrious' Series B round.
- Investment Focus Areas: Technology, tech-enabled businesses, high-growth companies.
- Notable Investments: GoPro, Globant, Alog Data Centers.
- Outlook Ventures
- Details: Outlook Ventures is a venture capital firm that invests in early to growth-stage technology companies. They participated in Industrious' Series B funding round.
- Investment Focus Areas: Technology, software, internet services.
- Notable Investments: Omniture, Friendster, Zappos.
- Maplewood
- Details: Maplewood is an investment firm that participated in Industrious' Series B funding round. They focus on promising startups and growth-stage companies.
- Investment Focus Areas: Startups, growth-stage companies, diverse sectors.
- Notable Investments: Information not specified.
- Fifth Wall
- Details: Fifth Wall is a venture capital firm that invests in real estate technology companies. They have a strategic focus on bridging the gap between the real estate and technology sectors.
- Investment Focus Areas: Real estate technology, sustainability, construction tech.
- Notable Investments: Opendoor, Blend, VTS.
- Brookfield Property Partners
- Details: Brookfield Property Partners is a global real estate company that invests in and operates properties across various sectors. They have a significant stake in Industrious.
- Investment Focus Areas: Real estate, commercial properties, retail spaces.
- Notable Investments: GGP Inc., Forest City Realty Trust, Rouse Properties.
What's Next for Industrious?
Industrious is poised to capitalize on the growing demand for flexible workspaces by expanding into new cities and enhancing its digital platform through the acquisition of PivotDesk. This move positions the company to attract larger enterprises and more established companies, offering a premium, inclusive work environment.
With a strong financial backing and a cash-flow positive status, Industrious is well-placed for future fundraising rounds to support its ambitious expansion plans. However, the company must navigate the competitive coworking market and manage the high fixed costs associated with operating multiple locations.
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