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Workbar to Add Two Locations via $1.2M Raise
Workbar LLC, the third-largest coworking space provider in Massachusetts, is poised for further expansion following a recent fundraising round, Boston Business Journal reported. With approximately 5,000 members, Workbar plans to launch two new locations within the next 12 to 18 months, in addition to its upcoming Worcester space set to open in September.
These new spaces, labeled as No. 13 and No. 14, will be strategically located closer to urban centers, albeit technically in the suburbs. The expansion drive is fueled by a $1.2 million equity raise, following a $1.5 million funding round in 2021. Workbar, boasting 200,000 square feet across Massachusetts, positions itself as a significant player in the coworking landscape, rivaling WeWork Inc.
In response to WeWork’s dominance perception, Workbar aims to redefine Boston’s coworking scene. With WeWork’s recent bankruptcy filing and adjustments to office leases, coworking providers like Workbar are adapting to hybrid work models, emphasizing suburban accessibility and flexible membership options.
- ◦Development
