- Knotel is expected to announce a Series C funding round for $200+ million.
- In October last year, the company raised $60 million.
- Knotel is currently valued at $500 million.
The Information reported yesterday that Knotel is expected to announce a Series C funding round for more than $200 million. According to sources, The Kuwait Investment Authority is one of the main investors for this round.
Founded in 2016, Knotel has raised a total of $160 million in funding over 4 rounds. Their latest funding was raised on Oct 23, 2018 from a Series B round; it raised $60 million and brought its valuation to $500 million.
The flexible workspace provider currently operates over 200 locations across the US, Canada, Europe, and Brazil. Late last year, rumor had it that Knotel would be getting out of the coworking business after it discontinued its coworking floors in New York.
The news came a few months after WeWork launched HQ by WeWork, a service that would directly compete with Knotel’s core business.
News of the funding round coincides with Knotel’s latest recruitment, Vik Aggarwal. The company hired Aggarwal to be the global head of enterprise.