A WeWork competitor, which provides workspace to entrepreneurs ‘Industrious’ has declared the close of a $37 million Series B round. Riverwood Capital run the round along with the contribution from Outlook Ventures and Maplewood.
Presently, Industrious has more than 21 locations around the country, comprising Brooklyn, Los Angeles, Minneapolis, Chicago, Austin, Atlanta, St. Louis, Raleigh, Nashville and more.
However, the company delivers highly flexible leases and private office space for one to 10 people accompanied by numerous common space for people, who like to hang out.
Providing more information, Industrious doesn’t have the same software-based services that WeWork has and it provides an exactly same level of quality space and brags clients like Pinterest and Instacart. Cofounded in 2013 by Jamie Hodari and Justin Stewart, Industrious has seen 5x year-over-year revenue as per the company.
When it comes to talking about the latest round of funding of the company, it will allow the company to expand in new cities and adding many new locations in the cities.
Riverwood Capital’s founder Francisco Alvarez-Demalde said, “As we experience a transformation in how people work and collaborate, we’ve aligned ourselves with Industrious to transform the workplace and offer a premium solution to corporations, small businesses, and entrepreneurs.”
Co-Working Space – Be Better & Together
We all know that Co-Working is the creation of collaborative, inspiring and community-driven workspaces, which are drawing independent professionals out their home office, and work into the best environment place. In short, businesses, who work in a shared space, has lots of advantages.
Mainly, the decreased overhead cost is the driving factor. Moreover, monthly membership costs highly less than a professional and it would pay for a traditional office lease, and benefits that come along with.
If you are a freelancer and you feel alone at your home while working, you should book one tour to any Co-Working space that offers a comprehensive range of facilities and amenities. You don’t know that what kind of opportunities could come your way when you move your career into a shared space.