Total amount raised
$259 Million
Latest funding date
8/1/2019
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.
Keep reading to explore the intricacies of Industrious's fundraising journey and the investors backing this innovative platform.
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 acquired by CBRE Group and operates in the industries of collaboration, communities, coworking, and PropTech.
How Much Funding Has Industrious Raised?
- Corporate Round
- Amount Raised: USD 200,000,000
- Date: February 2021
- Lead Investors: Equinox Fitness, Wells Fargo Strategic Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business expansion, product development, market penetration, and operational scaling.
- Series D
- Amount Raised: USD 80,000,000
- Date: August 2019
- Lead Investors: Not publicly disclosed
- 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 2018
- Lead Investors: Fifth Wall, Riverwood Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and expand market reach.
- Series B
- Amount Raised: USD 25,000,000
- Date: March 2017
- Lead Investors: Riverwood Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market presence.
- Series B
- Amount Raised: USD 37,000,000
- Date: September 2016
- Lead Investors: Riverwood Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business growth and operational expansion.
Total Amount Raised: USD 422,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Equinox Fitness
- Details: Equinox Fitness is a high-end fitness company known for its luxury fitness clubs. It offers a range of services including personal training, group fitness classes, and spa services.
- 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 aims to support the growth of innovative companies through equity and debt investments.
- Investment Focus Areas: Technology, financial services, real estate.
- Notable Investments: Not publicly disclosed.
- Fifth Wall
- Details: Fifth Wall is a venture capital firm that invests in technologies for the global real estate industry. It partners with real estate owners, operators, and developers to drive innovation in the sector.
- Investment Focus Areas: Real estate technology, construction technology, sustainability.
- Notable Investments: Opendoor, Blend, Hippo Insurance.
- Riverwood Capital
- Details: Riverwood Capital is a private equity firm that invests in high-growth technology and technology-enabled companies. It focuses on transformative investments that drive growth and innovation.
- Investment Focus Areas: Technology, software, digital media.
- Notable Investments: Globant, GoPro, Alog.
- 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 aims to achieve a maximum rate of return without undue risk of loss.
- Investment Focus Areas: Real estate, infrastructure, private equity.
- Notable Investments: Ant Financial, Enbridge, Glencore.
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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