LiquidSpace, the online marketplace that helps people find a place to work or meet, has raised $6 million in Series B funding from The GPT Group, a real estate investment trust. The round also included participation from Shasta Ventures, Floodgate Fund, and Greylock Capital. The company said that it will be using the funds to “fuel market development efforts and extend the company’s product offerings in support of its growing enterprise client base.”
The GPT Group is an Australian listed property company that LiquidSpace says has “broad access” to capital invested in “quality assets” which have great returns. Its model is to be focused on “active ownership of high quality Australian real estate in the retail, office and industrial sectors.” While having helped book 150,000 reservations across 2,000 private and public workspaces in more than 250 cities in the United States, LiquidSpace looks to be expanding its service across the Pacific to Australia.
What is LiquidSpace?
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So…what is LiquidSpace? As more people launch their own startups or consultancies, finding a place to work can be rather difficult. Working from a Starbucks, hotel lobby, or even at home is great once in a while, but when there’s a need to have a meeting with either a client or somebody else, chances are that you need a bit more professional setting. For businesses, they’re looking to find a way to monetize their empty space while also offering workplaces that could help “generate increased productivity.”
Through the use of LiquidSpace’s ‘Airbnb style app for nearby workspaces‘, working professionals can browse nearby spaces, whether it’s from a business or a co-working office, read reviews, get pricing, and reserve it — all from their mobile device.
Mark Gilbreath, founder and CEO of LiquidSpace, says:
In today’s consumer driven economy, the professional worker, whether freelancers, startup entrepreneur, or Fortune 500 employee, is accustomed to freedom of choice in where and how they work. By providing these professionals with tools to confidently choose great spaces, we’re helping to accelerate a dramatic transformation in the commercial real estate landscape. We are thrilled to have the support of the GPT Group and look forward to leveraging their insights and market leverage to grow LiquidSpace on a global scale. GPT will be instrumental in the establishment of LiquidSpace in Australia.
In this round of funding, The GPT Group is the only new investor. Greylock Capital, Shasta Ventures, and Floodgate Fund all are existing investors. The company previously raised $1.3 million in its seed round, followed by $3.785 million for its Series A round. In total, it has raised $11.085 million.
Photo credit: Ian Gavan/Getty Images for O2