Today, we’re announcing a $30 million Series A raise, with investment from top strategic investors and venture funds.
The capital infusion — propelled by strategic investors including WeWork, Newmark and Cushman & Wakefield — is helping position our fast-growing company as the new flex industry standard, connecting corporate occupiers, flex space providers and brokerage firms in one efficient ecosystem. (Read the full press release here.)
New York, New York, May 2022: Upflex has announced the closing of its $30 million Series A round. The raise was led by WeWork with participation from notable strategic investors Newmark and Cushman & Wakefield as well as returning investor Ecosystem Integrity Fund, and top venture funds including GPO Fund, Coelius Capital, Industry Ventures, Inertia Ventures, Perennial Private Investments, and Silicon Valley Bank. This brings Upflex’s total funds raised to-date to $34.1 million.
“We’re excited and humbled to partner with global leaders in commercial real estate and top proptech investors who bring the market expertise and the financial backing that is needed to further our growth,” said Christophe Garnier, CEO and co-founder of Upflex. “We plan to leverage the funds to expand our market leading technology and team as we continue to cement ourselves as the backbone of the flex industry, setting the standard for what today’s employers and employees seek in the workplace.”
What’s next for Upflex
The company plans to will utilize this capital infusion to further accelerate its core mission of creating a multi-faceted technology standard that connects occupiers, brokerage firms and flex space partners with the solutions that the flex industry needs to meet the demand of the hybrid generation.
Our data-driven solutions help reduce overhead while simultaneously increasing sustainability, satisfaction as well as scalability for companies of all sizes, from start-ups through global enterprises. The fast growth prop tech startup plans to expand its software offering, recruit top talent as well as expand its comprehensive network to 30,000 bookable workspaces by 2025.
We entered into a strategic and exclusive partnership with WeWork in February 2022 which increased our global network to over 6,000 bookable locations. We’re now the sole aggregator of WeWork inventory, and WeWork’s hundreds of thousands of clients — including 28,000+ remote-first or hybrid companies — now benefit from enhanced optionality in workspaces as they aim to adopt hybrid work strategies.
“WeWork has always been at the forefront of workplace innovation and we are constantly looking for best-in-class partners to enhance the solutions we provide to companies of all sizes around the world,” said Sandeep Mathrani, CEO of WeWork. “We’re confident that our exclusive partnership with Upflex provides an advantage in our ability to support a more flexible, hybrid world of work.”
The workspace locations offered by hundreds of other Space Partner brands in our global network are now available on demand to those members and companies as well — a win-win for the workforce and for space providers.
How Upflex is powering the future of work
For flexible space partners, we create enhanced exposure for their portfolio of assets, while enabling them to manage their inventory without added incremental capital investments.
For employees, our technology and suite of SaaS solutions enable office location and desk booking flexibility while empowering employers to expand their definition of workspace, bringing their owned and leased real estate into the same centralized, easy-to-use booking ecosystem with a worldwide network of thousands of workspaces on demand. We currently enable on-demand access to more than 6,000 bookable locations spanning 80 countries, 900 cities and growing. In addition to our exclusive partnership with WeWork, Upflex has more than 700 other flex operator partners.
Managers have access to real-time usage data and trends over time, enabling them to create customized, long-term hybrid solutions optimized to their business objectives, employee happiness and sustainability goals.
Our technology and space network have been tapped to power portfolio management tools and client offerings by some of the world’s leading brokerages.
We plan to continue to deliver an unparalleled employee choice and experience, robust data, in-depth employer workspace controls and access to the best quality marketplace of flex spaces.