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HelloOffice Closes $20M Series A

2020-06-24
SAN FRANCISCO, CA, HelloOffice has raised a $20 million Series A round of financing.
HelloOffice, the technology-powered commercial real estate brokerage making the search for office space seamless and intelligent, today announced it has raised a $20 million Series A round of financing. Point Ventures led the investment round with participation from existing investors Initialized Capital, Founders Fund, SaaStr, House Fund, Jake Gibson, among others. The company also had new investments from clients and partners, a testament to HelloOffice, especially amidst the uncertainty of today's climate.

"HelloOffice's full-stack approach to brokerage will be a game changer for the real estate industry," said Sri Chandrasekar, Partner at Point72 Ventures. "We are excited to partner with this innovative and collaborative company as they continue to expand their product offering and geographic footprint."

HelloOffice, which has now raised $27 million to date, has reimagined brokerage from the ground up, with technology in its DNA. The funds will be invested in building its technology platform, helping its brokers continue to provide the best client experience and service in the market, and expanding its services to project management and workplace strategy. The company will also be expanding to new geographies beyond San Francisco and Los Angeles.

"We saw a huge opportunity to expand our technology platform and geographic footprint. The time is ripe to usher in the hybrid workplace in a scalable way," said Justin Bedecarre, CEO, HelloOffice. "We are focused on creating new product offerings to help companies find their optimal workplace solution and, in many cases, work with companies transitioning to hybrid workplaces."

HelloOffice's high-tech, high-touch service will soon deliver an end-to-end platform for the workplace - helping clients find their space, close their lease, build out their office, and assist in ongoing operations for their optimal workplace. The company recently hired top construction management leader Kyla Brennan from Newmark Knight Frank, who has built out millions of square feet in projects for clients like Stripe, Box, and Lattice.

"Everyone is rethinking the modern office and it's going to take a modern, software-powered brokerage to lead companies into this new era. We've been proud to work with Justin and his team from their earliest days and HelloOffice continues to set the industry standard," says Alexis Ohanian, General Partner at Initialized Capital.

The pandemic brought on an unprecedented work from home experiment and has accelerated workplace transformation. The landscape has changed in a matter of months, highlighting the critical need for a modern brokerage powered by technology to lead companies into this new era.

HelloOffice delivers curated real-time information, collaborative tools, and a powerful and secure way to manage workplaces in a single cloud-based platform, supported by expert brokers, project managers, and workplace strategists. Together, HelloOffice is built to lead the industry in the future of work.

"The place we work should be as flexible, dynamic, and energetic as we've each proven to be. A place of potential. That's what you can expect in the future," adds Bedecarre. "That's what HelloOffice delivers for our clients."

About HelloOffice

Founded in 2016 in San Francisco, HelloOffice is a technology-enabled brokerage pairing expert brokers and workplace leaders with powerful technology to provide companies the best service in finding and managing their workplace. In just a few years, HelloOffice has helped hundreds of leading startups and high growth companies, including Palantir, Y Combinator, Brex, Afterpay, and many more. For more information, visit www.HelloOffice.com.

About Point72 Ventures

Point72 Ventures is a global venture capital firm led by a diverse set of domain experts with the capital to lead rounds through all stages of a company's growth. The firm invests primarily in Fintech, AI/ML, and Enterprise technologies. As an independent arm of Point72, the global asset management firm led by Steven A. Cohen, Point72 Ventures offers well-informed insights into the global economy. Point72 Ventures has offices in New York City, Palo Alto, California, and Stamford, Connecticut. For more information, visit their website at http://p72.vc/.

About Initialized Capital

Initialized Capital is an early stage venture firm based in San Francisco with $500M under management that partners with entrepreneurs just as they're raising their first institutional capital. The firm has a deep bench of experienced operators and founders and was co-founded by Reddit co-founder Alexis Ohanian and Garry Tan, who were both previously partners at Y Combinator. Initialized's portfolio includes companies like Instacart, Coinbase, Flexport, Patreon, and Cruise, which was acquired by General Motors.
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