Flex office provider Industrious has raised $80 million in a series D round, from investors that include real estate landlords, venture capital firms and Equinox, the company announced today. NEW YORK, Aug. 22, 2019 /PRNewswire/ -- Industrious, the largest premium flexible workspace provider in the U.S., today announced that it has closed an $80 million Series D funding round focused on strategic landlord partners. Just recently, they raised $80 Million in Series D funding. The round accelerates Industrious’s industry-first evolution to exclusively signing asset-light and low-risk landlord partnerships. Management contracts represent more than 80% of the deals Industrious has signed in 2019, and the company predicts managed units will form the majority of its portfolio by Q1 2020. For more information, visit www.industriousoffice.com. By FinSMEs Published on August 24, 2019 August 24, 2019. Click To Tweet. Funds from the Series D will be used to expand the company’s suite of landlord services, double network size, both organically and through M&A opportunities, and support international expansion. Industrious is reinventing how people work by creating elegant, welcoming office spaces that make people proud and excited to come to work. Industrious Raises $80M in Series D Round. Techspace Raises £5M in Funding. "The company is helping transform the way the commercial office market works, with a growing number of enterprises choosing Industrious as their long-term outsourcing partner for high quality and flexible office solutions. First, Industrious is among a new cadre of real estate companies pushing the traditional landlord-tenant relationship into a hybrid of service-provider and hospitality expert. Since its last round of funding, Industrious has grown its square footage by 129% and now spans over 80 locations across more than 45 U.S. cities. Industrious has secured over 20 landlord partners to-date including: Hines, EQ Office, Macerich, Jamestown LP, and more. Industrious plans to use the Series C money to add new locations, increase its staff from 135 to around 210 and invest in data gathering. “We are excited to continue witnessing the amazing growth of Industrious, not only in terms of customers, locations and revenue, but also in terms of the maturity and quality of the service offering,” said . At the same time, landlords are taking advantage of this opportunity by partnering with Industrious in order to provide a better offering and transform their properties. Its Workplace Experience platform, which pairs thoughtfully-designed spaces with hospitality-driven services and amenities, has reshaped the concept of coworking into a scalable solution for companies of all sizes and stages. The Series D brings the total raised by Industrious to $222 million. Funds from the Series D will be used to expand the company's suite of landlord services, double network size, both organically and through M&A opportunities, and support international expansion. The company expects to be profitable in Q1 2020. Industry and Idleness is the title of a series of 12 plot-linked engravings created by William Hogarth in 1747, intending to illustrate to working children the possible rewards of hard work and diligent application and the sure disasters attending a lack of both. This brings its total money raised to $222 million. Industrious’ news comes just days after flexible workspace provider Knotel raised $400 million in financing, securing its place as New York’s newest unicorn, and just a month before WeWork is expected to go public. Industrious General Information Description. The company expects to be cash-flow positive in 2020. Second, Industrious’s focus on management agreements aligns its interest with that of its landlord partners while also insulating Industrious from the payments mismatch that lurks in the next downcycle. Through landlord partnerships, Industrious manages and operates flexible workspaces, large enterprise suites, and building-wide shared amenities while providing landlords income 30% above a market lease. It has also increased revenue 140% year-over-year, and acquired two coworking companies, Assemble and TechSpace. Those who knew Greg Land as a child probably wouldn’t have predicted that the bookish, brainy Texan would one day become an international businessman and world traveler. This story is part of Big Thinkers, a series of profiles on business leaders transforming industries with bold ideas. Since its founding in 2013, Industrious has helped thousands of companies scale their businesses while maintaining the highest NPS scores in the industry. from 8 AM - 9 PM ET. Private and dedicated spaces for individuals and teams of all sizes, The private office you can use just once or twice a week, A private or standalone suite customized for your business, Industrious is unquestionably the operating partner-of-choice for landlords, and from our end, partnering with landlords enables us to deliver the world’s most productive workplaces. Operator of premium flexible workspaces intended to reinvent the modern workplace. An exciting aspect of d ata visuali zation is the role these techniques can play in solv ing major business challenges. Industrious has raised a total of $222M in funding over 4 rounds. That announcement joins news that the New York City-based firm raised $80 million in Series D funding today, bringing total investment in Industrious to $222 million. HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, Highest margins - 30+% for existing leased units, 90+% for managed units, Most consistent unit performance - 90% average occupancy for mature units, 10 month average time from launch to maturity, <1% net churn, Highest customer satisfaction ratings - NPS score of 74%, Revenue per workstation - 25+% higher than largest competitor. Industrious has secured over 20 landlord partners to-date including: Hines, EQ Office, Macerich, Jamestown LP, and more. Through landlord partnerships, Industrious manages and operates flexible workspaces, large enterprise suites, and building-wide shared amenities while providing landlords income 30% above a market lease. The Series D brings the total raised by Industrious to $222 million. Industrious was founded in 2013 and started to focus on landlord partnerships in 2018. Founded in 2013 by Jamie Hodari and Justin Stewart, the company provides members with stunning offices, inviting hospitality, and inspiring communities. Industrious raises USD 80m Million in Series D funding to expand network size through landlord partnerships Hines collaborated with Fifth Wall, the venture capital firm, to "define and evaluate the evolution of the burgeoning flexible workspace landscape in a first-of-its-kind RFP process," which led to the selection of Industrious and Convene as operating partners. Flexible office operator Industrious has closed on a $80 million Series D funding round through its landlord partnerships. About IndustriousIndustrious is the largest premium flexible workspace provider in the U.S. with over 80 locations in more than 45 U.S. cities. The Series D funding brings the total raised by Industrious to USD 222 million. "We are excited to continue witnessing the amazing growth of Industrious, not only in terms of customers, locations and revenue, but also in terms of the maturity and quality of the service offering," said Francisco Alvarez-Demalde, co-founding partner and managing partner of Riverwood Capital Partners. It closed on an $80 million Series D round last year, as CO previously reported. Industrious — one of the largest premium flexible workspace providers in the U.S. — announced it has closed $80 million in Series D funding focused on strategic landlord partners. Investors in the round include Riverwood Capital Partners, Brookfield Properties Retail, TF Cornerstone, Granite Properties, Equinox, Wells Fargo Strategic Capital, Fifth Wall Capital, and the Canada Pension Plan Investment Board. Peter Duncan, Andrew Conrad, Matt Coudert and Alexander Bermingham of George Comfort handled the deal in-house for the landlord. 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