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Hubble, the London-based online marketplace for renting flexible office spaces has just secured €4.6 million in Series A funding round led by Silicon Valley-based JLL Spark Global Venture Fund. Other investors participated in the round included Downing Ventures, the Directors of M7 Real Estate and Starwood Capital. Now after the funding, Hubble has brought its total capital to €7.35 million.
Taylor Wescoatt, Partner at Starwood Capital stated, “We have backed Hubble over two rounds of funding and seen the business go from strength to strength. As the flexible office market starts to resemble the hotel market, we firmly believe in Hubble’s vision of becoming the Booking.com for this sector.”
Hubble – an endeavour by entrepreneurs for entrepreneurs
Headquartered in London, Hubble was founded by two young entrepreneurs, Tushar Agarwal and Tom Watson in 2014. The proptech platform showcases the best value rental office spaces suitable for startups, big businesses, freelancers or anyone.
It enables users to get the finest customised match for a private office, co-working or a serviced office according to their needs. The creative co-working environment facilitates Startups to explore networking possibilities and share ideas. Further, they get in touch with accelerators for empowering their businesses.
10x growths in flexible office spaces in London
As per statistics, flexible office space in London has mounted to 5% of total office space from a meagre 0.5% in just five years.
Hubble exhibits 5,000+ offices on its platform and has partnered with 500+ large and independent space providers including WeWork and IWG. The expert team of the startup negotiates the best deal for the clients and manages all the legal admin procedure post the agreement.
Tripled revenue has been achieved in 2018
Since its instigation, the proptech startup has been growing rapidly and in the year 2018 itself, it tripled its revenue. Hubble maintains a huge list of clientele across genre including Accenture, Jaguar Land Rover, Monzo Bank and Trussle.
Medium-sized businesses are in focus
After the latest fund infusion, Hubble is aiming to develop cutting-edge technology and scale its operations. Tushar Agarwal, CEO and co-founder of Hubble expressed, “Since launching four years ago, we’ve built an unrivalled technology platform that addresses the overwhelming need for finding and renting flexible office space, easily.”
Tushar further added, “When we started, our average client was a five-person startup needing desks in a co-working space for a few months. Now, we are frequently helping businesses with 50 staff or large multinationals renting space for a year or more.
The traditional lease market with its 10-year terms and significant upfront costs is no longer fit for purpose. Businesses want to be able to move in, or out, of an office in a matter of days and we’re able to help them do that.”
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