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August 23, 2019 Comments Off on Knotel Joins “Unicorn” Ranks with $400M Fundraising Views: 503 New York News, Top New York

Knotel Joins “Unicorn” Ranks with $400M Fundraising

Flexible workspace provider Knotel completed a $400-million financing, led by Wafra, an investment arm of the Sovereign Wealth Fund of Kuwait. The fundraising puts the New York City-based startup into “unicorn” territory with a valuation of more than $1 billion.

Knotel said it will use the financing to grow its footprint in existing markets, continue expansion into the world’s 30 largest cities and grow its global enterprise business. The company’s fundraising now exceeds $560 million in less than four years.

“Knotel is building the future of the workplace, and we are excited to welcome a group of investors who believe passionately in our product, vision and ability to execute,” said CEO Amol Sarva. “Wafra will help us continue our rapid global expansion and solidify our position as the leader in a fast-growing, trillion-dollar flexible office market.”

Returning and previous Knotel investors include Norwest Venture Partners, NKF, Bloomberg Beta and Rocket Internet.

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