[bctt tweet=”New York-based flexible office provider Knotel has announced that it has raised $400 million in funding led by Wafra, an investment arm of Kuwait’s government. ” username=”allwork_space”]
“Knotel is building the future of the workplace, and we are excited to welcome a group of investors who believe passionately in our product, vision, and ability to execute,” said Amol Sarva, CEO of Knotel. “Wafra will help us continue our rapid global expansion and solidify our position as the leader in a fast-growing, trillion-dollar flexible office market.”
Knotel will use its new funding to accelerate the development of blockchain platform Baya and workplace product subscription service Geometry.
Baya will be used internally to facilitate data-driven acquisition decisions, while Geometry will allow Knotel to outfit its workspaces based on the needs of clients.
Knotel differs from traditional coworking operators by gearing its services to large enterprises, who have recently started adopting the idea of flexible workspaces.