In The Loop: Convene Raises $152M, IWG’s Spaces, And Niche Space Growth

IGW’s coworking brand, Spaces, sets its sight on Singapore, while Convene plans for international expansion

Convene Raises US$152M
Flexible space operator, Convene, raised $152 million in a Series D funding round and brings the company a US$500 million valuation. According to news reports, “the company intends to use its latest cash infusion to expand the business both in the US and globally” and hopes to increase its footprint to 700,000 square feet by the end of this year.

Spaces To Expand In Singapore
International Workplace Group (IWG)–Regus’s holding company–announced that it will expand its coworking brand Spaces to Singapore. According to EdgeProp, the coworking operator will open 5 locations in the region by mid-2019, adding approximately 250,000 square feet of workspace to its portfolio.

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REth!nk Raises US$8M
New entrant of the coworking industry, REth!nk, recently raised US$8 million in funding. REth!nk is a coworking startup that’s seeking to establish a platform of niche coworking centers focused on the real estate industry. The company is hoping to open over 28 locations within the next five years and the recent funding will be used to open locations in Houston and Denver.

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