Brooklyn-based Industrious has raised $80M in a Series C funding round, the co-working company announced Tuesday.
Riverwood Capital and Fifth Wall Ventures led the round, and the firm’s total venture capital funding is now at $142M. The capital injection will go toward launching more spaces, providing additional services to clients and data collection, Industrious CEO Jamie Hodari said.
The company is now in 25 cities, and plans to expand to 50 or 60 locations by the end of 2018.
“One-third of the growth will be adding more cities to the network, and two-thirds will be for additional locations for cities we are already in,” Hodari said.
The firm has two New York City operations, and opened its first Manhattan location at SL Green's 215 Park Ave. South in 2016. It has plans to expand to Bryant Park, Lower Manhattan (from Flatiron down to SoHo) and parts of “brownstone Brooklyn,” meaning areas south of the Brooklyn-Queens Expressway.