Hubble, the online platform for flexible office space, has secured £4m in Series A financing from a group of investors spearheaded by JLL Spark Global Venture Fund.
The London-headquartered platform was founded in 2014. It lists more than 5,000 offices on its website, covering the whole flexible office market, and the latest investment takes its fundraising total to £6.4m over three funding rounds.
This marks the first European investment for JLL Spark, the Silicon Valley-based venture capital arm of JLL. Other investors include Downing Ventures and the directors of M7 Real Estate (the owner of commercial property management and data software company Coyote). Starwood Capital (via proptech fund Concrete), an existing investor, also increased its stake significantly.
Hubble has previously been backed by former BBC Dragon’s Den investor James Caan and Streetcar (now Zipcar) founder Brett Akker.
The fresh round of funding will be used to invest further in Hubble’s technology platform, evolving its proposition to attract medium-sized businesses (of 50 people or more).
The company will invest further in its data infrastructure and tooling to help flexible office providers such as WeWork improve their offerings. Hubble says its ultimate ambition is to be the Booking.com for flexible office space worldwide.
The flexible office sector is in high demand, with 30% of corporate portfolios expected to be flexible office space by 2030, according to JLL.
Hubble’s clients include Jaguar Land Rover, Monzo Bank and online mortgage broker Trussle.
Tushar Agarwal, chief executive and co-founder of Hubble, said: “Since launching four years ago, we’ve built an unrivalled technology platform that addresses the overwhelming need for finding and renting flexible office space easily.
“When we started, our average client was a five-person start-up needing desks in a co-working space for a few months. Now, we are frequently helping businesses with 50 staff or large multinationals renting space for a year or more.”
Mihir Shah, co-chief executive of JLL Spark, added: “We continue to see an increase in demand for flexible office space, and Hubble’s technology platform does a great job of streamlining the process of connecting a wide array of businesses with the right space for them.”
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