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Knotel

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Knotel is an American workspace company that offers “headquarters as a service,” subleasing private and fully furnished office space to large enterprises.[1][2] Knotel leases space directly from office landlords and completes build-outs (office design, furnishing, wiring and management) on behalf of the companies that will occupy it.[3]

The New York-based company was founded in 2016 by Amol Sarva and Edward Shenderovich. Knotel now subleases over 4 million square feet of space in 224 locations across the world,[4] including London, San Francisco, Paris, Berlin, and Sao Paulo.[5] The lease term through Knotel is typically six months to five years.[6]

As of 2019, Knotel reached unicorn status with a $400 million Series C funding round. The company was valued north of $1.3 billion.[7][8]

Knotel
IndustryCommercial Real Estate
Founded 📆2016
Founders 👔Amol Sarva, Edward Shenderovich
Headquarters 🏙️,
New York, New York
Area served 🗺️
Members
Number of employees
453
Websitewww.knotel.com
address
telephone

History[edit]

Tech entrepreneurs Amol Sarva and Edward Shenderovich conceived of Knotel as a workspace model distinct from coworking and traditional office. Rather than targeting startups and freelancers, Knotel focused on acquiring enterprise clients,[9] to deliver a service-oriented approach to office. That has come to entail the office build-out itself (including IT requirements, data security, workplace layout and interior design) and workspace management after move-in.[10] Knotel uses a profit-sharing strategy with landlords.[11]

Knotel raised $25 million in Series A funding in February 2017,[12] followed by five rounds totaling in $560 million raised.[13] Knotel’s most recent financing round, led by Wafra, secured $400 million[14]. Investors have included Newmark Knight Frank, Norwest Venture Partners, the Sapir Organization, Rocket Internet and Bloomberg Beta.[15]

Knotel has acquired flex providers in expansion markets, including Ahoy!Berlin,[16] and Paris-based Deskeo,[17] as well as commercial real estate search engine 42Floors.[18]

In 2019, Knotel launched Geometry, a modular furniture subscription, which rolled out exclusively to Knotel clients.[19] Knotel has also extended into blockchain technology with Knotel Koin, a forthcoming office listing service that will reward users with a Knotel-branded cryptocurrency.[20]

Recognition[edit]

IFMA NYC recognized Knotel with its 2018 Workplace Innovation Award.[21] Amol Sarva has been featured on Commercial Observer’s The Power 100: Commercial Real Estate’s Most Powerful Players list.[22]

References[edit]

  1. "Understanding Knotel vs Traditional Office Space- Headquarters as a Service". Office Spaces NYC. 2017-10-22. Retrieved 2019-10-27.
  2. "Knotel CEO Amol Sarva Explains His "Headquarters as a Service" Concept". Propmodo. 2017-10-18. Retrieved 2019-10-27.
  3. "While WeWork Struggles to Sell its IPO, Competitors like Knotel are Gaining Ground". Fortune. Retrieved 2019-10-27.
  4. "Workspace provider Knotel secures $400M, putting it in WeWork's rear-view mirror". TechCrunch. Retrieved 2019-10-27.
  5. "While WeWork Struggles to Sell its IPO, Competitors like Knotel are Gaining Ground". Fortune. Retrieved 2019-10-08.
  6. Kumar, Kalyan (2019-09-24). "WeWork CEO Adam Neumann Steps Down, Former Amazon Exec Takes Over". International Business Times. Retrieved 2019-10-27.
  7. Putzier, Konrad. "As WeWork Stumbles, Its Smaller Competitors Cash In". WSJ. Retrieved 2019-10-22.
  8. "While WeWork Struggles to Sell its IPO, Competitors like Knotel are Gaining Ground". Fortune. Retrieved 2019-10-27.
  9. "While WeWork Struggles to Sell its IPO, Competitors like Knotel are Gaining Ground". Fortune. Retrieved 2019-10-08.
  10. "The little flexible office startup that could". The Real Deal New York. Retrieved 2019-10-08.
  11. "The Story of Knotel: New York's Hottest New Workspace Model". AllWork.Space. 2017-04-11. Retrieved 2019-10-08.
  12. "Knotel raises $25M to expand its "headquarters as a service" approach to office space". TechCrunch. Retrieved 2019-10-27.
  13. "Crunchbase - Knotel". Unknown parameter |url-status= ignored (help)
  14. "Workspace provider Knotel secures $400M, putting it in WeWork's rear-view mirror". TechCrunch. Retrieved 2019-10-08.
  15. www.ETtech.com. "Amol Sarva's unicorn startup is challenging WeWork - ETtech". ETtech.com. Retrieved 2019-10-08.
  16. "In a push into Europe, WeWork competitor Knotel acquires Ahoy!Berlin". TechCrunch. Retrieved 2019-10-08.
  17. "Knotel acquires Deskeo, Paris's largest agile office space operator". TechCrunch. Retrieved 2019-10-08.
  18. "Knotel acquires 42Floors in order to build the blockchain of property". TechCrunch. Retrieved 2019-10-08.
  19. Reader, Ruth (2019-05-30). "Knotel launches a furniture subscription service for offices". Fast Company. Retrieved 2019-10-08.
  20. "The little flexible office startup that could". The Real Deal New York. Retrieved 2019-10-08.
  21. "Knotel | Knotel Receives IFMA NYC Chapter Workplace Innovation Award". www.knotel.com. Retrieved 2019-10-08.
  22. "The Power 100: Commercial Real Estate's Most Powerful Players". Commercial Observer. 2019-04-23. Retrieved 2019-10-08.


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