Knotel raises $25M to expand its “headquarters as a service” approach to office space
Knotel announced today that it has raised $25 million in Series A funding. Founded in 2015, the company offerswhat co-founder and CEO Amol Sarva described as headquarters as a service a flexible office space that can be customized for each tenantwhile also growing or shrinking as needed. This might sound like its addressing the same need as WeWork and other coworking spaces, but Sarva (who was previously co-founder at Virgin Mobile) argued that Knotel is not coworking. Its not just a way to rent out a few desks, but rather to buildyour companys office without the risks of a long-term lease. Its a culture-coded environment its your spot, Sarva said. This should appeal to startups, where headcount might double or triple one year, and then drop again the next. (Ive certainly visited startups thatwere clearly trying to squeezeway too many people intotheir office, and others whod leased way more space than they needed and tried to fill things up by renting to others). Why would you waste your [venture capital] on real estate?Sarvasaid. A lease is like buying. At Knotel,youdontbuy anything everything is a service.
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