Knotel workspace in Paris
NEW YORK – Flexible workspace provider, Knotel, has completed $400 million in financing, led by Wafra, an investment division of the Sovereign Wealth Fund of Kuwait.
Knotel differentiates itself from other co-working providers by offering private, fully-furnished workspaces to large enterprises. Knotel operates its platform by catering to each company’s space and needs through its in-house teams of architects, interior designers and workplace strategists.
Knotel co-founder and CEO, Amol Sarva, welcomed the new group of investors to the trillion-dollar flexible office market, expressing the company’s future growth strategies.
Knotel intends to utilize the financing to grow and solidify its footprint in existing markets, to continue global expansion in large cities and to engage more efficiently with clients.
In order to carry out its objectives, Knotel plans to streamline its service delivery model with its recent innovations, Baya and Geometry. Baya is an internal blockchain platform that will facilitate data-driven acquisitions to reduce transaction costs and Geometry is a product subscription service to intelligently, better fit workspaces.
Since its 2016 inception, Knotel has raised a total of $560 million and is now valued at more than $1 billion with numerous enterprise customers. The company has grown to more than 4 million square feet of space in more than 200 locations across New York, San Francisco, London, Los Angeles, Washington DC, Paris, Berlin, Toronto, Boston, Sao Paulo and Rio de Janeiro.
Financing participants include Japanese real estate business operator, Mori Trust, Japanese trading conglomerate, Itochu and Japanese equity firm, Mercuria. Returning investors for Knotel include Norwest Venture Partners, Newmark Knight Frank, Bloomberg Beta and Rocket Internet.
Knotel is a flexible workspace provider that acquires and manages office space, tailored to established and growing companies.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
