SoftBank’s Vision Fund has led a $200 million funding round into Clutter, a storage services company, as it explores into other sectors within the real estate market.
Canadian operator OneEleven launches offices in London
London’s office market has become riddled with coworking spaces, shared offices and more. The likes of US-based operators such as WeWork and Knotel having an international presence have left other companies with no room in the market— until now.
Toronto’s OneEleven believes it has a new take on helping London’s fast-growing businesses by providing “scale as a service.”
Tenants have access to turn-key services like HR, brand and marketing support, sales tools and more. With this, companies will be able to completely focus on operating their businesses.
Since 2013, OneEleven claims to have seen 70 companies raise over $500 million with a collective valuation of over $2 billion.
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“London offers incredible support for early-stage businesses as they start out, and once they reach Series A funding – but there simply isn’t enough of an infrastructure out there at the moment to help companies at that crucial in-between stage,” said Dean Hopkins, CEO of OneEleven.
Hopkins says that while many companies go through incubator programs, once their term is up, they are left to fend for themselves.
Since OneEleven does not take equity from members’ companies, the a la carte services do come at a price for businesses in the building.
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The hub of London can be quite expensive, but there are plenty of up-and-coming areas that provide adequate offices, innovative environments, and cost effectiveness.