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Industrious Raises $80M in Series D Round
WeWork competitor Industrious raised $80 million in a Series D round, bringing its total to $222 million. The company said it would use the funding to accelerate its growth through landlord partnerships.
“We evolved to a partnership-only approach about a year and a half ago and this latest round of funding capitalizes on that, allowing us to aggressively pursue our expansion goals,” said Industrious CEO Jamie Hodari.
“Evolving to management contracts has not been easy,” he added. “It took the hotel industry 30 years to graduate from leases, and you have to have very strong, consistent economics to build the trust of landlord partners—so we’re particularly proud to be leading the industry on this front.”
Investors in this round included Riverwood Capital Partners, Brookfield Properties Retail, TF Cornerstone, Granite Properties, Equinox, Wells Fargo Strategic Capital, Fifth Wall Capital and the Canada Pension Plan Investment Board.
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- ◦Financing
