Spacemade raises £1m for UK expansion

Flexible working start-up Spacemade has raised £1m from investors to fund the opening of new office spaces in the UK, EG can reveal.  The company, which launched last year and now has seven workspaces around the country, works directly with building owners to design and run flexible offices on their behalf. Founders Jonny Rosenblatt and Dan Silverman hope to cash in on an anticipated surge in popularity for the flexible office sector, as more occupiers seek a hybrid working model as the UK emerges from lockdown. Silverman said the investment came at “a watershed moment for the flexible market”. He added: “As we emerge from the pandemic the provision of flexible space is going to increase substantially as businesses demand increased flexibility. However, it will increasingly be building owners providing it directly, enabling a much closer relationship with their customers.” The investment came from a mix of existing landlord clients, real estate entrepreneurs, and finance and tech investors. Spacemade currently manages around 100,000 sq ft of office space for its clients, with existing spaces in Fitzrovia and the Strand in London, as well as in Leeds city centre. The firm is looking to expand its network further over the coming months with the new cash. Rosenblatt added: “It’s clear that businesses need flexibility and perfectly-operated workspace.  “Our approach is very different to the existing cookie-cutter model. Each one of our spaces that we operate for landlords is unique for its specific target customer, but part of a much larger network of spaces. Operational real estate is all about scale and this fundraise will help us accelerate our plans.” To send feedback, e-mail alex.daniel@egi.co.uk or tweet @alexmdaniel or @estatesgazette