Workbox Raises $17.5M in Funding for Expansion

Workbox, a Chicago-based workspace operator, raised $17.5 million in Series A funding. The round, which has a follow-on option to secure an additional $5.5 million, was led by Chicago Atlantic. The funding will help Workbox accelerate its growth across the United States. The company has now raised more than $25 million to date.

With ten locations in five cities, Workbox is one of the fastest-growing operators in the nation, most recently announcing new locations in Chicago and Dallas this month. CEO and Co-Founder John Wallace said, “Workbox has more than doubled its revenue every year since inception, but it took a capital partner with the ability to look beyond office market headlines to see the true size of our opportunity in this trillion-dollar sector.”

John Mazarakis, Founding Partner at Chicago Atlantic, added, “Workbox has been quietly pioneering the industry in both customer acquisition and structure innovation since it began. We’ve been impressed by its hands-on approach to operations and management, a strategy we believe will sustain its growth and performance long-term.”