Upflex Announces $30M Series A From Top Strategic & Venture Funds
Upflex—the premier global provider of hybrid workspace solutions—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 includingGPO 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.
Upflex entered into a strategic and exclusive partnership with WeWork in February 2022 which increased Upflex’s global network to over 6,000 bookable locations. As the sole aggregator of WeWork inventory, Upflex and WeWork clients now benefit from enhanced optionality in workspaces as they aim to adopt hybrid work strategies.
“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 & 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.”
Founded in 2018, Upflex 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. Upflex’s 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.
“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.”
For flexible space partners, Upflex creates enhanced exposure for their portfolio of assets, while enabling them to manage their inventory without added incremental capital investments. For employees, it enables 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. 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. Upflex’s technology and space network have been tapped to power portfolio management tools and client offerings by some of the world’s leading brokerages.
Upflex—which continues to deliver an unparalleled employee choice and experience, robust data backbone, in-depth employer workspace controls and access to the best quality marketplace of flex spaces—currently boasts on-demand access to more than 6,000 bookable locations spanning 80 countries, 900 cities and growing. In addition to its exclusive partnership with WeWork, Upflex has more than 700 other flex operator partners.
About Upflex: Upflex is a fast-growing, global proptech company offering a suite of SaaS solutions for the hybrid workplace. Upflex’s all-in-one technology stands to become the flex industry standard, connecting occupiers, brokerages and flex space providers in one seamless ecosystem that champions flexibility and choice, and makes distributed work simpler, more cost-efficient, more sustainable, more scalable, and more secure. A technology-driven company, Upflex is built on the belief that the key to a better world of work lies in data. Their platforms provide users with rich, actionable workspace usage data to drive smarter workspace decisions, and greater efficiency overall, for companies, for the workforce, and for the planet.
About WeWork: WeWork (NYSE: WE) was founded in 2010 with the vision to create environments where people and companies come together and do their best work. Since then, we’ve become one of the leading global flexible space providers committed to delivering technology-driven turnkey solutions, flexible spaces, and community experiences.
For more information about WeWork, please visit us at WeWork.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
Marino; Vice President
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Long-Beleaguered Hotel Property in Paradise Valley, Arizona Gains New Owner30.6.2022 00:10:00 CEST | Press release
Walton Global, a real estate investment and land asset management company with US$3.6 billion under management, is pleased to announce its acquisition of the Smoke Tree Resort property located west of Scottsdale Road on Lincoln Drive in the Town of Paradise Valley, Arizona. The deal closed on June 29, 2022, with ST Holdings, a subsidiary of Scottsdale-based Walton Global Holding, LLC. Walton acquired the 5-acre property for $14 million with plans to build a new boutique hotel that will serve locals and support Arizona tourism. Walton intends to incorporate an elegance in the new design that Paradise Valley is known for and avoid controversial elements that have challenged Smoke Tree and other hotel redevelopments in the past such as roof top bars, condominiums, for-sale units, height, density and other concerns that have hampered revitalization efforts in the past. The distinctive and strategically positioned property was subject to bankruptcy and now has fresh opportunities and a rene
Napster Outlines New Web3 Music Ecosystem29.6.2022 18:15:00 CEST | Press release
Napster Music Inc., the music streaming service, today announced the publication of its Litepaper V1 which outlines its plans to apply Web3 technology to its existing business and millions of users in order to improve how music makers, rights holders and fans can interact. A new entity, Napster Innovation Foundation, will be issuing $NAPSTER tokens using the Algorand blockchain protocol to streamline its existing platform functionality as well as open up new options for creating value around streaming music. "We’re entering the streaming-plus era of music, which is one of the few scaled business sectors where adoption of blockchain tech actually makes immediate sense for everyone,” said Emmy Lovell, Interim CEO of Napster. “People who make music, people who listen to it and those who own its IP all already depend heavily on technology. Web3 offers a chance to deepen, extend and improve the music ecosystem.” “Napster is a strong, self-sustaining business and an iconic brand,” said Matt
izzi Taps Verimatrix XTD and Streamkeeper to Protect Its Popular Media Apps, Endpoint29.6.2022 17:45:00 CEST | Press release
Regulatory News: Verimatrix, (Euronext Paris: VMX) (Paris:VMX), the leader in powering the modern connected world with people-centered security, today announced that izzi , a mexican telecommunications firm that offers the country’s popular izzi tv and izzi go services, is set to build upon its existing use of Verimatrix content protection and anti-piracy solutions with the addition of Streamkeeper as well as Extended Threat Defense (XTD) technologies to protect many of their fast-growing iOS, Android and web streaming services plus its Android set-top box services. With an ever-increasing customer base with millions of users throughout Mexico and a vast array of premium entertainment delivery platforms, izzi decided to expand its use of Verimatrix following success with its current VCAS and Multi-DRM deployments. Verimatrix XTD will soon be used to protect code within all of the company’s PayTV apps throughout all izzi platforms, while the company will also benefit from comprehensive
EIG Launches Chilean Renewables Platform, Grupo Cerro29.6.2022 17:00:00 CEST | Press release
EIG, an institutional investor to the global energy sector and one of the world’s leading infrastructure investors, today launched Grupo Cerro, a new renewable energy platform in Chile. The newly formed entity includes EIG-owned Cerro Dominador plants and the recently acquired ANPAC, the owner of a portfolio of 11 small and medium run-of-river hydroelectric power plants in the O’Higgins, El Maule, Bio Bio and La Araucania regions. The 110 MW ANPAC portfolio includes operating plants and projects at various stages of construction and development in both the spot and stabilized-tariff markets. Following the acquisition, Grupo Cerro now manages over 280 MW of installed capacity in Chile, including the Cerro Dominador Photovoltaic (PV) and Concentrated Solar Power (CSP) plants. The group’s portfolio also includes several projects in advanced phases of construction and development, including the Likana Solar complex, one of the largest CSP projects in the world with a capacity of 690 MW, Pa
Trackforce Valiant Acquires TrackTik Software, Creates the World’s Largest Security Workforce Management Company29.6.2022 16:00:00 CEST | Press release
Trackforce Valiant, a leading provider of security workforce management solutions, today announced the acquisition of TrackTik Software, one of the most innovative and fastest growing cloud-based security workforce management providers. The combination of these two companies has created a new dominant market leader in providing visibility and control for the physical security workforce. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220629005064/en/ “We are very excited to welcome TrackTik into the Trackforce Valiant family,” said Trevor Campion, CEO of Trackforce Valiant. “Now more than ever, we believe in the importance of providing the right security solutions for companies of all sizes and business needs. The addition of TrackTik enables us to provide a wide range of technology options that are purpose-built for the unique needs of physical security operations.” TrackTik was founded in 2013 with the mission of providing