Tech-based commercial brokerage firm HelloOffice announced today that it raised $20 million in Series A financing.
The new funds will be invested in HelloOffice’s property search and management platform to help companies build out and reconfigure space and workplace strategy. Global capital firm Point72 Ventures — founded by billionaire Steven A. Cohen — led the investment series, with additional contributions from Alexis Ohanian’s and Garry Tan’s Initialized Capital, as well as Founders Fund, SaaStr, Jake Gibson, House Fund and more.
HelloOffice has now raised a total of $27 million to date, and the company believes the pandemic and subsequent work-from-home experiment accelerated workplace transformation.
“Our investors believe that the time is ripe to usher in the hybrid workplace in a scalable way,” said Justin Bedecarre, CEO of HelloOffice, in a statement. “In the current COVID-19 climate, we are focused on creating new product offerings to help companies find their optimal workplace solution and, in many cases, work with companies transitioning to hybrid workplaces.”
HelloOffice also announced that it will soon expand beyond San Francisco and Los Angeles, and that it hired Kyla Brennan from Newmark Knight Frank to lead new project management.
HelloOffice delivers a secure way to search for and manage workspaces with help from brokers, project managers, and workplace strategists. The firm hopes to soon support the end-to-end process from search to leasing to workplace management.
HelloOffice was founded in San Francisco in 2016, and expanded to L.A. in October 2019.