[bctt tweet=”San Diego-based CommonGrounds Workplace has raised $40 million from current investors that will go towards its national network expansion plan.” username=”allwork_space”]
The company has eight locations after raising $100 million earlier this year and anticipates opening 21 by March 2020.
The plan to becoming one of the largest flex workspace operations in the country includes having a footprint of 2 million square feet, putting it on par with the likes of Knotel.
Additionally, the company’s shift to reusable, movable alternative to drywall will greatly cut operating costs — a key factor in standing out in the market as industry leader WeWork has been heavily scrutinized for their high operating costs.
Developed with Italy’s Tecno SpA, the walls feature built in electricity and internet cables, connect to heating and air conditioning systems, and will reduce future demolition and construction costs.