Cofounder Knotel 70m 1b Ann Azevedotechcrunch Knotel is a flexible workspace provider that offers customized office spaces to businesses of all sizes. Knotel provides a range of workspace solutions including private offices, collaborative workspaces, and conference rooms. The company’s mission is to help businesses find the perfect workspace that suits their needs while providing a more flexible and affordable alternative to traditional office leases.
Knotel was founded in 2016 and is headquartered in New York City. The company operates in multiple cities across the United States, Europe, and Asia, and serves a diverse range of clients from small startups to large enterprises. Knotel’s unique approach to workspace solutions includes providing fully furnished and equipped office spaces that can be customized to meet the specific needs of each client. This flexibility allows businesses to grow and adapt their workspace as their needs change over time.
Knotel SoftBank Group Funding
Cofounder Knotel 70m 1b Ann Azevedotechcrunch Knotel received a significant investment from the SoftBank Group in August 2018. The investment was part of Knotel’s Series C funding round, which raised a total of $60 million.
SoftBank Group’s investment in Knotel was made through its Vision Fund, which is a large investment fund that focuses on technology companies. At the time, SoftBank Group was one of the largest investors in the global technology sector, and its investment in Knotel was seen as a major endorsement of the company’s business model and potential for growth.
The investment from SoftBank Group was intended to support Knotel’s expansion plans and help the company compete with larger flexible workspace providers such as WeWork. However, SoftBank Group later became embroiled in financial difficulties, and in March 2020, Knotel was forced to cut jobs and restructure its business in response to the economic impact of the COVID-19 pandemic. As a result, Knotel’s relationship with SoftBank Group has been strained, and the two companies have reportedly been in discussions over potential changes to their investment agreement.
Knotel Funding rounds
- Seed Round: In August 2016, Knotel raised $3 million in a seed funding round led by New York-based venture capital firm, Trinity Ventures.
- Series A: In April 2017, Knotel raised $25 million in a Series A funding round led by New York-based real estate investment firm, Newmark Knight Frank.
- Series B: In March 2018, Knotel raised $70 million in a Series B funding round led by New York-based real estate investment firm, Newmark Knight Frank.
- Series C: In August 2018, Knotel raised $60 million in a Series C funding round led by San Francisco-based venture capital firm, Norwest Venture Partners.
- Series D: In February 2019, Knotel raised $400 million in a Series D funding round led by New York-based real estate investment firm, Wafra.
- Series E: In August 2019, Knotel raised $400 million in a Series E funding round led by New York-based real estate investment firm, Itochu.
- Debt Financing: In December 2019, Knotel raised $10 million in debt financing from New York-based investment firm, Wolfthal Family Office.
In total, Knotel has raised over $560 million in funding as of its last funding round in August 2019.
FAQs about Knotel
Here are some frequently asked questions about Knotel:
What types of workspaces does Knotel offer?
Knotel offers a range of workspaces including private offices, team suites, collaborative workspaces, conference rooms, and event spaces.
Where is Knotel located?
Knotel has locations in multiple cities across the United States, Europe, and Asia. Some of the cities where Knotel operates include New York City, San Francisco, London, Berlin, and Singapore.
How does Knotel differ from traditional office leases?
Knotel offers more flexibility than traditional office leases. Businesses can choose the workspace that best meets their needs and only pay for what they use. Additionally, Knotel provides fully furnished and equipped workspaces that can be customized to meet each client’s unique needs.
How much does Knotel cost?
The cost of a Knotel workspace varies depending on the location, the size of the workspace, and the services included. However, Knotel’s pricing is typically more affordable than traditional office leases.
How long are Knotel leases?
Knotel leases can range from a few months to several years, depending on the needs of the client. However, Knotel offers more flexibility than traditional office leases, so businesses can adjust their workspace as their needs change over time.
What amenities does Knotel provide?
Knotel provides a range of amenities including high-speed internet, 24/7 access, printing and scanning services, kitchen facilities, and reception services.
How do I sign up for a Knotel workspace?
Businesses can sign up for a Knotel workspace by contacting Knotel directly through their website or by calling their customer service hotline.
In summary, Knotel is a flexible workspace provider that offers customized office spaces to businesses of all sizes. Since its founding in 2016, Knotel has raised over $560 million in funding through multiple funding rounds, with notable investments from companies such as SoftBank Group, Norwest Venture Partners, and Wafra. Knotel’s unique approach to workspace solutions includes providing fully furnished and equipped office spaces that can be customized to meet the specific needs of each client, offering a more flexible and affordable alternative to traditional office leases. While Knotel has faced some challenges in the wake of the COVID-19 pandemic, the company remains a major player in the global flexible workspace market, with locations in multiple cities across the United States, Europe, and Asia.