Total amount raised
$522M
Latest funding date
2021-02-22
Location
Industrious has successfully raised funding over five rounds, attracting investments from notable backers such as Equinox Fitness and Wells Fargo Strategic Capital. The company offers premium flexible workspace solutions tailored for hybrid workers, small teams, and those needing meeting rooms.
Industrious has raised approximately $522 million in disclosed funding across multiple rounds, backed by prominent investors including CBRE Group, Riverwood Capital, Fifth Wall Ventures, the Canada Pension Plan Investment Board, and Equinox. In January 2025, CBRE Group announced the full acquisition of Industrious for approximately $400 million, reflecting an implied enterprise valuation of approximately $800 million.
Keep reading to explore Industrious's complete fundraising journey and key investors.
What Is Industrious?
Industrious, headquartered in New York, New York, is a prominent player in the coworking and private office space industry. The company redefines the workplace experience by offering premium flexible workspace solutions tailored for hybrid workers, small teams, and those needing meeting rooms.
Founded with a vision to enhance productivity and comfort, Industrious has grown to employ between 501–1000 people. The company has been fully acquired by CBRE Group and operates in the industries of collaboration, communities, coworking, and PropTech.
How Much Funding Has Industrious Raised?
- Acquisition (CBRE Full Buyout)
- Amount: USD 400,000,000 (for remaining ~60% equity stake)
- Date: January 14, 2025
- Acquirer: CBRE Group
- Implied Enterprise Valuation: approximately USD 800,000,000
- Notes: CBRE had previously held ~40% equity and a $100M convertible note. This transaction completed full ownership.
- Convertible Note
- Amount Raised: USD 100,000,000
- Date: May 18, 2022
- Lead Investors: CBRE Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund global expansion; CBRE's total investment in Industrious reached $330 million at this point.
- Corporate Round
- Amount Raised: USD 200,000,000
- Date: February 22, 2021
- Lead Investors: CBRE Group
- Valuation at Round: Approximately USD 571–600 million
- Motivation Behind the Round: CBRE acquired a ~35% minority stake; deal included transfer of CBRE's Hana coworking brand to Industrious. Funds used for hiring and expansion of management agreements.
- Series D
- Amount Raised: USD 80,000,000
- Date: August 22, 2019
- Lead Investors: Not publicly designated; key investors include Riverwood Capital Partners, Fifth Wall Capital, Brookfield Properties Retail, TF Cornerstone, Granite Properties, Equinox, Wells Fargo Strategic Capital, and Canada Pension Plan Investment Board
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate asset-light growth through strategic landlord partnerships, double the network size, and support international expansion.
- Series C
- Amount Raised: USD 80,000,000
- Date: February 27, 2018
- Lead Investors: Riverwood Capital, Fifth Wall Ventures
- Participants: Alrai, Outlook, Rabina Properties, Schechter Private Capital, Wells Fargo Strategic Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To double coworking sites, enhance product offerings, and expand market reach.
- Series B (Follow-on)
- Amount Raised: USD 25,000,000
- Date: March 28, 2017
- Lead Investors: Riverwood Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations; accompanied the acquisition of PivotDesk.
- Series B
- Amount Raised: USD 37,000,000
- Date: September 13, 2016
- Lead Investors: Riverwood Capital
- Participants: Outlook Ventures, Maplewood
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business growth, expand to new markets, and increase coworking locations.
Total Amount Raised: at least $522 million based on disclosed funding rounds. Current Valuation: Implied enterprise valuation of approximately $800 million at time of full CBRE acquisition (January 2025).
Key Investors
- CBRE Group
- Details: CBRE Group is the world's largest commercial real estate services and investment firm. It first invested in Industrious in February 2021 (acquiring ~35%), increased its stake with a $100M convertible note in May 2022, and fully acquired Industrious in January 2025 for ~$400 million.
- Investment Focus Areas: Commercial real estate, flexible workspace, PropTech.
- Notable Investments: Industrious, Hana (transferred to Industrious).
- Riverwood Capital
- Details: Riverwood Capital is a private equity firm that invests in high-growth technology and technology-enabled companies. It was a lead investor in Industrious from the Series B through Series C rounds.
- Investment Focus Areas: Technology, software, digital media.
- Notable Investments: Globant, GoPro, Alog.
- Fifth Wall
- Details: Fifth Wall is a venture capital firm that invests in technologies for the global real estate industry. It co-led the Series C round with Riverwood Capital and also participated in the Series D.
- Investment Focus Areas: Real estate technology, construction technology, sustainability.
- Notable Investments: Opendoor, Blend, Hippo Insurance.
- Canada Pension Plan Investment Board
- Details: The Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds of the Canada Pension Plan. It participated in the Series D round.
- Investment Focus Areas: Real estate, infrastructure, private equity.
- Notable Investments: Ant Financial, Enbridge, Glencore.
- Equinox
- Details: Equinox is a high-end fitness company known for its luxury fitness clubs. It participated in the Series D round alongside other landlord and institutional investors.
- Investment Focus Areas: Fitness, wellness, lifestyle.
- Notable Investments: Not publicly disclosed.
- Wells Fargo Strategic Capital
- Details: Wells Fargo Strategic Capital is the investment arm of Wells Fargo, focusing on strategic investments. It participated in both the Series C and Series D rounds.
- Investment Focus Areas: Technology, financial services, real estate.
- Notable Investments: Not publicly disclosed.
What's Next for Industrious?
Industrious is poised for significant growth, with opportunities to expand its network size and enhance its suite of landlord services. The company's asset-light model, which leverages strategic landlord partnerships, positions it to double its network size and explore international markets. This approach not only increases revenue but also provides landlords with income 30% above market lease.
Future fundraising efforts are likely to attract high-profile investors, supporting further expansion and service enhancements. The company's strong economic performance and industry leadership make it an attractive investment. However, challenges such as maintaining trust with landlord partners and managing economic downturns could pose obstacles along the way.
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