Room, a NYC-based moder workspace startup, raised $12.5m in Series A funding.
The round was led by Slow Ventures with participation from SJF Ventures, Lerer Hippeau, and FJ Labs and renowned architect Bjarke Ingels, founder and creative partner of Bjarke Ingels Group (BIG), whose projects include LEGO House in Denmark, Google’s Mountain View and London Headquarters, and VIA 57 West in New York, and notable angel investors. In conjunction with the funding, Dave Kirkpatrick from SJF joined Room’s board of directors and Ingels has been named to the advisory board.
The company intends to use the funds to launch a series of new products in the second half of this year, which will provide modular spaces that are purpose-built for focused work and collaboration.
Founded by Brian Chen and Morten Meisner-Jensen in May 2018, Room provides a soundproof phone booth, chairs, boxed meeting rooms, and accessories. The company has also announced the the upcoming expansion of its product portfolio with a suite of new modular architectural solutions designed to meet demand for adaptability and flexibility in the office. The new products provide modular spaces that are purpose-built for focused work and collaboration, introducing density sensors into its product suite, opening the door to data-driven floor plans that empower employers to make their workspaces productive and efficient.
In the last year alone, Room doubled its customer base and reached $30 million in revenue. At the end of 2019, the company expanded into Europe, launching operations in the UK, France, Germany, Denmark, Belgium, Luxembourg, The Netherlands, Austria, Switzerland, Sweden, Norway, and Ireland. It works with more than 3,000 customers around the world, including NASA, Samsung, Google, Salesforce, and Uber. The company is based in New York City with showrooms around the world in San Francisco, Los Angeles, Copenhagen, Berlin, Paris, and London.