Modern Workspace Startup Room Secures $12.5M in Series A Round of Financing

Modern Workspace Startup Room Secures $12.5M in Series A Round of Financing

The company plans to use the new cash to launch a series of new products in the second half of 2020, which would provide modular spaces that are purpose-built for focused work and collaboration

FREMONT, CA: Room, an NYC-based modern workspace startup, closed $12.5m in Series A funding.

The round was led by Slow Ventures with active participation from Lerer Hippeau, SJF Ventures, and FJ Labs and renowned architect Bjarke Ingels, founder and creative partner of Bjarke Ingels Group (BIG), whose projects are Google’s Mountain View, London Headquarters, and LEGO House in Denmark, and VIA 57 West in New York, and notable angel investors. In addition to the funding, Dave Kirkpatrick from SJF joined Room’s board of directors, and Ingels has been named to the advisory board.

The company plans to use the new cash to launch a series of new products in the second half of 2020, which would provide modular spaces that are purpose-built for focused work and collaboration.

Established by Brian Chen and Morten Meisner-Jensen in May 2018, Room provides a soundproof phone booth, boxed meeting rooms, chairs, and accessories. The company has also declared the upcoming expansion of its product portfolio with a suite of new modular architectural solutions designed to fulfill the demand for adaptability and flexibility in the office. The new products offer modular spaces that are purpose-built for focused work and collaboration, introducing density sensors into its product suite, opening the door to data-driven floor plans that enable employers to make their workspaces efficient and productive.

In the last year, Room increased its customer base and reached $30 million in revenue. At the end of 2019, the company expanded its business into Europe, launching operations in the UK, France, Germany, Belgium, Denmark, Luxembourg, The Netherlands, Austria, Norway, Switzerland, Sweden, and Ireland. It works with over 3,000 customers around the world, including NASA, Google, Salesforce, Samsung, and Uber. The company is based in New York City with showrooms around the world in San Francisco, Berlin, Los Angeles, Paris, Copenhagen, and London.

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