Orrick Advises Coworking Startup Industrious on Series D Financing Round

August.23.2019

Orrick advised Industrious, the largest premium flexible workspace provider in the U.S., on its $80 million Series D funding round focused on strategic landlord partners.

Investors in the round include Riverwood Capital Partners, Brookfield Properties Retail, TF Cornerstone, Granite Properties, Equinox, Wells Fargo Strategic Capital, Fifth Wall Capital, and the Canada Pension Plan Investment Board. The Series D brings the total raised by Industrious to $222 million.

Through landlord partnerships, Industrious manages and operates flexible workspaces, large enterprise suites, and building-wide shared amenities while providing landlords income 30% above a market lease. Funds from the Series D will be used to expand the company's suite of landlord services, double network size, both organically and through M&A opportunities, and support international expansion.

The Orrick team advising Industrious was led by Christopher Austin and Samir Bakhru and included Diana Gillis, Steve Malvey, Christine McCarthy, John Narducci, Will Peifer, Jamie Kamen, Kathryn Montalvo and Barbie Patterson.