Industrious Raises $37M In Series B Round, Plans 12 New Co-Working Locations
Venture capital dollars are continuing to find well-executed co-working providers. Brooklyn-based Industrious has raised $37M in a Series B round, the company announced Tuesday, bringing its total capital raise at this point to $51M.
Industrious has one location in NYC in Prospect Heights, and is planning to open a Manhattan outpost soon. Unlike competitors WeWork and MakeOffices, which opened multiple locations in their original cities—New York and DC, respectively—before branching out to other markets, Industrious already has branches in Atlanta, Chicago and Philadelphia, and is opening its first Los Angeles location tomorrow, Bisnow reported exclusively.
Industrious CEO Jamie Hodari (pictured above with co-founder and president Justin Stewart) says the funding will allow the company to open a dozen new locations, including that LA branch, Techical.ly reports. Industrious' website lists Kansas City, Dallas, Phoenix, Portland, Seattle, San Diego, San Francisco, Detroit, Charlotte, Pittsburgh and Miami as "coming soon" markets. The funding came from VC firms Riverwood Capital, Outlook Ventures and Maplewood. [Tech]