WeWork Competitor Knotel Closes $70M Financing and Launches Blockchain Platform

FinTech company, Stash Investments LLC, set up headquarters in a Knotel space.

NEW YORK CITY—Knotel closed a $70 million Series B financing. With this latest round of funding PitchBook, a research firm owned by Morningstar, has valued the firm at $500 million. Founded in 2106, Knotel designs and runs flexible and customized workspaces. In two years, it has opened 45 locations across New York, San Francisco and London, totaling nearly one million square feet, providing services for over 200 companies such as Starbucks, Stash and King.

The WeWorks competitor plans to use the latest funding to double in size this year, expanding in core and new markets in mid-market and enterprise businesses. It provides offices space in buildings where tenants can lease on shorter and more flexible terms.