Breather, a Montreal, CA-based provider of on-demand private workspace, raised a USD$20m Series B round of financing.
The round was led by Peter Thiel’s Valar Ventures with participation from RRE Ventures, Real Ventures, SOS Ventures and Slow Ventures.
The company, which has raised USD$28.5m to date, intends to use the funds to grow its network of on-demand spaces in the cities in which it is present and expand to new markets including Los Angeles, Chicago, Washington, D.C., Toronto and London, U.K.
Led by CEO and co-founder Julien Smith,
Breather provides curated spaces and meeting rooms that are designed for optimal productivity. Each room is equipped with a seating area and conference table, free high-speed Wi-Fi, device charging stations and a whiteboard.
The company acquires its locations via commercial office leases and revenue-sharing agreements, with spaces typically ranging from 500 – 3,000 square feet each. It also partners with boutique hotels, commercial property owners, and small businesses in revenue-sharing agreements. With over 95 locations, the company is currently operating in New York City, San Francisco, Boston and Montreal.