Home Business News ROOM to announce $12.5m series A funding

ROOM to announce $12.5m series A funding

by LLB Finance Reporter
5th Aug 20 8:05 am

ROOM the start-up reshaping the modern workspace, today announces the upcoming expansion of its product portfolio with a suite of new modular architectural solutions designed to meet crucial demand for adaptability and flexibility in the office. Backed by top VCs and renowned architects, ROOM will launch three new solutions this year to further its mission of creating the purpose-built workspaces of tomorrow.

Reeling from the impact of COVID, offices are scrambling to find solutions that accommodate virtual collaboration, enforce social distancing, and allow for quick configurability as the needs of employees change quickly. ROOM is doubling down on the office not only being here to stay, but also requiring more innovation than ever before.

Designed for adaptability, ROOM’s new products provide modular spaces that are purpose-built for focused work and collaboration. The new portfolio is priced to be a fraction of the cost of construction, flexible to any environment, and easy to assemble and disassemble as company and employee needs change alongside the global health crisis. ROOM will further introduce density sensors into its product suite, opening the door to data-driven floor plans that empower employers to make their workspaces as productive and efficient as possible.

“COVID has forced an unprecedented examination of the role that offices play and has shown us that the office as we knew it wasn’t that great in the first place,” says ROOM co-founder and CEO, Brian Chen.

“Fundamental changes to how we think about work are afoot, and at ROOM, we’ve always believed in a future that’s flexible. Our adaptive vision is perfectly suited to this moment in history, and will give businesses the tools they need to create an agile, productive, and inspiring work environment for all.”

To fuel ROOM’s expansion, the company recently closed a $12.5m Series A round led by Slow Ventures, a Silicon Valley venture capital firm with investments in Airtable, Pinterest, Allbirds, and Slack. SJF Ventures, Lerer Hippeau, and FJ Labs participated in the round alongside world-renowned architect Bjarke Ingels, founder and creative partner of Bjarke Ingels Group (BIG), and notable angel investors. In addition, Dave Kirkpatrick from SJF Ventures has joined the company’s board of directors and Ingels has been named to ROOM’s advisory board. 

“The needs of modern workers have dramatically shifted due to the pandemic,” said Kevin Colleran, Managing Director at Slow Ventures.

“The team at ROOM is helping companies define their strategies for returning to work, and the ROOM brand is becoming synonymous with how to create innovative, safe, productive work environments. We believe ROOM’s vision for adaptive architecture has the potential to completely revolutionize the commercial real estate industry as we know it.” 

“Access to better architecture should be easier for all and I see ROOM as a great democratizing tool that can help pave the way for people to adapt more flexibly to their workspaces. I am excited to invest in ROOM and join the advisory board,” says BIG Founder and Creative Director, Bjarke Ingels, whose projects include LEGO House in Denmark, Google’s Mountain View and London Headquarters, and VIA 57 West in New York.

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