ucommune, a Beijing, China-based co-working space provider, raised 300m RMB (US$43.5mn) in funding.
The round, which valued the company at US$1.8bn, was led by Prosperity Holdings.
The investment will be deployed to drive further global expansion and service upgrading.
Founded in 2015 by chairman Dr. Mao Daqing, a real estate veteran with over 23 years of experience, including in executive roles at CapitaLand and Vanke China, Ucommune is a co-working space provider offering long-term leasing, hot desk and corporate-customization solutions and professional services across a broad spectrum for small-to-medium enterprises.
Ucommune, which recently acquired Woo Space, Wedo Space, and Workingdom, covers over 160 locations in over 35 cities globally, including but not limited to Singapore, New York, Beijing, Taipei, Hongkong, Shanghai, Shenzhen, Tibet, servicing over 8,000 enterprises and 150,000 individual members in total.