Somewhere in between the rise of coworking and the on-demand market, Convene is creating a ‘workplace-as-as-service’ platform. The company operates a network of on-demand meeting and event venues — it and is already by used by companies like Facebook, Google, Bloomberg and Verizon, to name a few.
This week, the company announced that it has raised a $68 million Series C. The round was led by Convene’s existing investors — ArrowMark Partners, Brookfield Property Partners and Conversion Venture Capital — and brings the company’s total funding to $119 million.
The Durst Organization and Elysium Management also participated in the round.
“The way we work has changed forever. The rise of coworking is just the first step in a major industry shift,” said Ryan Simonetti, CEO and co-founder of Convene, in a statement. “The most progressive companies are looking for the next-generation of workplaces – ones that not only provide improved lease flexibility but also seamlessly integrate physical space, hospitality services, and on-demand technology into the overall experience. Landlords that have been disrupted by changing market preferences, initiated by the likes of WeWork, can now partner with Convene to enhance the way that an office building delivers the workday experience for tenants and their most coveted asset – their people.”
Since the company’s Series B round in 2016, Convene has more than doubled its commercial footprint, and opened full-service amenity floors in two of New York City’s most iconic office buildings: One World Trade Center and Park Avenue Tower.
The company plans on using the new funding to expand its network of on-demand meeting, conference and event venues for enterprise clients, as well as to develop a mobile-first technology platform for building employees and a new offering that helps landlords run office buildings more like full-service, ‘lifestyle’ hotels.
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