Global flex office provider Mindspace has secured funding in the amount of $72 million, the company announced Wednesday.
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Mindspace, founded in 2014 by Dan Zakai and Yotam Alroy, perates 32 branches in 17 cities in seven countries. In the past year alone, Mindspace launched new branches in London, Tel Aviv, Philadelphia and a new hub and spoke location outside Tel Aviv. Past and present customers include Microsoft, Samsung, Playtika, Taboola, Yahoo!, Expedia, GoPro, and more.
While most of the commercial real estate industry took a hit due to the COVID pandemic, the flex market continued to grow. All forecasts predict that the flex industry will reach a market share of more than 30% by 2030.
The investment round is intended to support the continuation of the company's growth and its further expansion in Europe, the United States and Israel. The round was led by Harel Insurance Investments and Financial Services Ltd., More Provident Funds, Shalom Meckenzie, Arkin Holdings and existing investors such as Yoav Harlap, Kobi Rogovin and Globalworth.
"Mindspace is experiencing an impressive growth momentum and high demand in all its locations," said Zakai.
"Mindspace isn't just another real estate company that rents out offices, but rather offers a strong, strategic partnership to its customers and to landlords. When choosing their office environment, we found that our customers put a great emphasis on their experience: central location, unique design and service of the highest standard. We expect a continued accelerated growth in 2022, while creating a great added value for our many customers," Zakai said.
