Conference center and services company Convene has secured $152 million in new financing, with plans to expand its network globally. Convene now operates 19 high-touch venues in the United States. Addressing the increased demand for flexible-term meeting and workspace solutions, this new round of funding, led by ArrowMark Partners, will be used to grow Convene's footprint globally, expand its service offerings and launch a workplace technology platform.
"Unlike many players in the flexible office or space-as-a-service category, Convene's landlord partnership model goes far beyond co-working, and we are proud to partner with the world's most respected office owners to create inspiring workplace environments for today's top companies," said Ryan Simonetti, CEO and co-founder of Convene. "We will use our new funding to expand our alliance with landlords and increase the value of traditional commercial office buildings by putting the human experience above all else."
Convene recently announced its acquisition of Beco, a mobile workplace analytics and data platform, to provide Convene's commercial real-estate landlord partners with valuable insights and data about the workplace.
Founded in 2009, Convene has locations in New York City, Boston, Philadelphia, Washington, D.C., and Los Angeles. By the end of 2018, the company will have 23 locations in five cities totaling approximately 700,000 square feet, and is projected to have 1.7 millon total square feet of space in 10 cities by the end of 2019, including at Chicago's Citadel Center.
Convene was profiled in M&C's 2018 Best Places to Work in the Meetings Industry, and Simonetti and his co-founder, Chris Kelly, were among M&C's 22 Millennials to Watch in 2016.