Industrious

Industrious, headquartered in New York City, provides coworking spaces to companies and individuals. It was founded in 2012 and operates in more than 150 locations and 65 cities in the U.S., Europe, and Asia.

Industrious
TypePrivately held company
IndustryCoworking
Founded2012 (2012)
FounderJamie Hodari and Justin Stewart
HeadquartersNew York City[1]
Area served
U.S., Europe, and Asia
ServicesCoworking spaces
OwnerJamie Hodari
Justin Stewart
CBRE Group (35%+)
Websitewww.industriousoffice.com

History

Industrious was founded in 2012 by Jamie Hodari and Justin Stewart, two best friends who grew up next door to each other in Michigan, who complained of the low quality of shared office spaces.[1]

Financing

The founders raised US$1 million from 80 investors to open the first location in Chicago in 2013.[2]

In March 2017, the company raised $25 million.[3][4]

In August 2019, the company raised US$80 million in Series D funding from Brookfield Property Partners, Canada Pension Plan, TF Cornerstone, Granite Properties, and Equinox Group.[5]

In February 2021, CBRE Group invested US$200 million and contributed its 10 coworking locations under the brand Hana to Industrious in exchange for a 35% stake in Industrious.[6]

In May 2022, CBRE invested an additional $100 million in Industrious.[7]

Partnerships

Industrious partners with Equinox Group to provide locations near gyms and offer gym memberships as perks to members.[8]

It has a partnership with Wythe Hotel to use hotel rooms as office spaces.[9]

In September 2020, the company announced a partnership with Cushman & Wakefield to provide amenities in properties managed by Cushman & Wakefield.[10]

In September 2022, the company announced a partnership with AvalonBay Communities to open locations in apartment complexes.[11]

Acquisitions

In March 2017, Industrious acquired PivotDesk, digital flexible workplace platform.[3]

In May 2019, it acquired TechSpace, an office space provider for tech-related companies.[12]

Notable locations

References
  1. Juetten, Mary (December 15, 2020). "The Continued Rise Of Offices In A Virtual World: Industrious". Forbes.
  2. Janega, James (September 30, 2014). "Industrious takes Chicago's coworking lessons on the road". Chicago Tribune.
  3. Magistretti, Bérénice (March 28, 2017). "Industrious acquires PivotDesk and raises $25 million". VentureBeat.
  4. Constine, Josh (March 28, 2017). "Industrious buys PivotDesk, raises $25M to be WeWork without startup bros". TechCrunch.
  5. Lash, Herbert (August 22, 2019). "Coworking firm Industrious raises $80 million, sees profit in 2020". Reuters.
  6. Tan, Gillian (February 22, 2021). "CBRE Acquires 35% Stake in Flexible Workspace Firm Industrious". Bloomberg News.
  7. Walter-Warner, Holden (May 20, 2022). "CBRE doubles down on flex-office provider Industrious". The Real Deal.
  8. Putzier, Konrad (May 14, 2019). "Equinox Gyms to Add Co-Working to the Workout". The Wall Street Journal.
  9. Sperance, Cameron (February 1, 2021). "Coworking Providers and Hotels Tighten Partnerships as Pandemic Still Weighs Heavy". Skift.
  10. "CUSHMAN & WAKEFIELD COLLABORATES WITH INDUSTRIOUS TO LAUNCH NEW INTEGRATED PROPERTY MANAGEMENT SERVICE" (Press release). September 15, 2020.
  11. Farr, Isabella (September 26, 2022). "Industrious adds apartment sites to coworking footprint". The Real Deal.
  12. Stateman, Alison (2 May 2019). "Industrious Buys TechSpace, Adding Seven New Locations to Portfolio". Commercial Observer.
  13. Brown, Steve (January 16, 2020). "Downtown Dallas coworking firm Industrious is expanding its footprint". Dallas News.
  14. Reader, Ruth (April 18, 2019). "There's a new use for America's dying malls: co-working". Fast Company.
  15. Matsuda, Akiko (February 5, 2021). "Flex-Office Provider Industrious Expands As Industry Contracts". The Real Deal.
  16. "Industrious Inks Lease at Backstone's Willis Tower". The Real Deal. October 12, 2020.
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