Workbox Secures $3.5M to Fuel National Growth
CHICAGO — March 9, 2022 — Workbox, the Chicago-based specialized coworking operator who has seen remarkable growth since its inception in 2019, has successfully raised $3.5 million in its latest series seed equity round. To date, Workbox has raised $7 million in total capital.
This latest round of funding, which was led by Hillsview Capital, will help Workbox build a national footprint by opening new locations outside of the Chicago market. “We are committed to establishing ourselves as the premium national flex office operator for early and growth-stage companies,” says Co-Founder and CEO John Wallace.
The COVID-19 pandemic has only increased the already high demand for flexible workspace solutions. While many industries have struggled over the past few years, the coworking industry has recently taken center stage when it comes to growth (the global valuation of flexible office spaces is currently $26 billion, with 30% of all office space expected to be consumed flexibly by 2030 according to JLL).
This new capital will also allow them to beef up their already impressive leadership team with new hires across the board. “Our next round of hiring will allow us to focus even more resources towards Sales, Operations, Marketing, and Business Development,” Wallace says.
“We understand that every business is different and that our customer’s needs are constantly evolving,” says John Wallace, Co-Founder of Workbox. “We built our business to offer support beyond physical space.” Workbox’s unique services include access to a range of investors & lenders, operational services, and virtual programming for members to connect with other leaders and industry experts across its national network. “This new funding will also allow us to expand our product offerings and internal capital resource availability for all Workbox members, which is exciting and crucial to our core focus of Member success,” says Wallace.
Workbox currently has four locations in Chicago: Gold Coast (1165 N. Clark St.), River North (306 W. Erie St.), Magnificent Mile (420 N. Wabash Ave.), and West Loop (600 W. Jackson Blvd.)
About Workbox: Workbox Holding, Inc. is a flexible office operator that provides professionals with a diverse platform to connect both in person and virtually. In addition to traditional office space and coworking solutions, the Chicago-based company offers direct access to a range of investors, vetted strategic advising via experienced mentors and professional specialists, as well as an unparalleled community of growing businesses.
Read a previous press release: Workbox Raises $1M to Guide Chicago Entrepreneurs and Startups