Swivel, Inc., an Austin, TX-based agile office leasing platform, closed an $8m Series A funding round.
The round was led by Jim Breyer of Breyer Capital, with participation from JLL Spark.
The company intends to use the funds for continued nationwide expansion and for further investment in the agile leasing platform and tenant-broker partner program.
Led by Scott Harmon, Founder and CEO, Swivel enables pre-qualified member companies to contract with its landlord partners for creative office space on flexible terms with little or no up-front capital expenditure and no lease lock-in. Landlords use the company’s leasing platform to backstop their leases for member companies, eliminating the risk and uncertainty usually associated with offering more flexible lease terms. Since its network launch in 2019, Swivel has signed up more than 30 landlords representing more than 150 properties across Austin, Dallas and Houston.