Global flexible office operator Mindspace has locked in a $72 million funding round that will go towards the company’s expansion across the globe.
At the moment, Mindspace has 32 branches across 17 cities in seven countries that span over 1 million square feet.
Over the past year, the company has opened new locations in London, Philadelphia, and Tel Aviv with its spaces at almost full occupancy. In fact, the company was able to recover and even surpass its pre-pandemic occupancy levels across certain locations in 2021.
Mindspace’s members vary, with 41% consisting of large enterprises and 38% being small and medium-sized companies. Technology firms take up the majority of its membership base.
“Mindspace is experiencing an impressive growth momentum and high demand in all its locations,” said Dan Zakai, CEO and cofounder of Mindspace. “We successfully faced the many challenges of COVID. Today, our locations are almost at full occupancy and the current investment led by Harel Insurance and More Provident Funds is intended to fulfill the rising demand in the market and to launch new locations in partnership with landlords worldwide.”