September 16, 2019
San Diego-based CommonGrounds Workplace raised an additional $40 million from existing investors to expand its initial $100-million Series A funding round to support the company’s aggressive two-year growth initiatives. Existing CommonGrounds investors include Pacifica Enterprises, Inc., as well as The Davidson Group, and Mohamed Alabbar, founder and Chairman of Emaar,
CommonGrounds’ Jacob Bates says, “CommonGrounds is offering the only true enterprise-grade, adaptive or Hackable Environment in the flexible office marketplace. Being the second mover to an industry that has so much demand, we see the unaddressed opportunities within the current market. We developed a series of enterprise-grade products and services for companies in various stages of growth, while delivering a high-quality brandable environment very much like a Fortune 1500 headquarters.”
CommonGrounds has grown from one location in Carlsbad, CA to 21 workplace locations in various stages of opening. Locations open and under construction comprise roughly 610,099 square feet in 20 cities and 11 states.
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