LiquidSpace Announces $6 Million Series B Round of Venture Financing Led by The GPT Group
Investment to Fuel Expansion of Real-Time Marketplace for Professional Workspace
SAN FRANCISCO, Calif., January 15, 2013-- LiquidSpace, the online marketplace that helps everyone find a better space to work or meet, today announced $6 million in Series B funding led by The GPT Group (ASX:GPT), a top real estate investment trust (REIT) with participation from Shasta Ventures, Floodgate Fund and Greylock Capital. Sam Nickless of GPT joins Tod Francis of Shasta and Mike Maples of Floodgate on the LiquidSpace board of directors.
The new capital will be used to fuel market development efforts and extend the company’s product offerings in support of its growing enterprise client base. As worker mobility increases, corporations are striving to reduce unused space and real estate portfolio costs as well as offer new workplace environments that generate increased productivity. With LiquidSpace, corporations can equip their employees with a powerful tool to find and book both private workplaces within their company’s portfolio, as well as external “3rd places” including leading office business centers, hotels and coworking spaces.
“In today’s consumer driven economy, the professional worker, whether freelancer, startup entrepreneur or Fortune 500 employee, is accustomed to freedom of choice in where and how they work,” said Mark Gilbreath, Founder and CEO of LiquidSpace. “By providing these professionals with tools to confidently choose great spaces, we’re helping to accelerate a dramatic transformation in the commercial real estate landscape. We are thrilled to have the support of the GPT Group and look forward to leveraging their insights and market leverage to grow LiquidSpace on a global scale. GPT will be instrumental in the establishment of LiquidSpace in Australia.”
GPT is an Australian listed property company with broad access to capital invested in quality assets which, through proactive management, creates great customer experiences and superior returns. The Group’s model is focused on active ownership of high quality Australian real estate in the retail, office and industrial sectors. Funds management and selective development complement this focus.
“LiquidSpace can be used by businesses to both reduce overall space requirements and gain productivity by changing the way employees use their workspaces,” said Michael O’Brien, GPT’s head of Corporate Development. “For GPT, there is a good opportunity to leverage the LiquidSpace platform as part of the property solutions we offer to our office, logistics and business park tenants. Our funding is part of a program of strategic venture investments in attractive and high potential new businesses, where GPT can provide targeted capital and strategic input, with the opportunity to create significant value growth.”
LiquidSpace’s existing investors Greylock, Floodgate and Shasta have also recommitted in the Series B round of funding. Prior to the Series B, LiquidSpace raised $1.3 million in a seed round led by Reid Hoffman of the Greylock Discovery Fund and Mike Maples of FloodGate, followed in May 2011, by a $3.785 million Series A round led by Shasta Ventures. The company’s total funding to date is $11.085 million.
LiquidSpace has facilitated over 150,000 reservations across its network of over 2000 private and public workspaces in over 250 cities nationwide. The company is rapidly fueling expansion of its service through initiatives with corporate partners, such as Marriott, to serve the needs of mobile business workers. LiquidSpace will continue to drive innovation for both professionals and enterprises through its growing marketplace and enterprise services.
For more information about LiquidSpace, please visit: https://liquidspace.com/.
For press resources please see: http://press.liquidspace.com/company.
Founded in 2010 and based in San Francisco, California, LiquidSpace is a real-time marketplace for people to confidently and quickly choose a better space to work or meet by the hour or day – online or from a mobile phone in just minutes.
Whether a coworking venue, business center, hotel lobby, library or private office, LiquidSpace lets business people find, book, and share over 2,000 great workspaces and meeting rooms in over 250 cities across the US. And, businesses can earn more, inspire loyalty, reach prospects, and incubate new communities by sharing their extra space in the expanding LiquidSpace ecosystem. For more information, visit: LiquidSpace.com or follow us on Twitter at @LiquidSpace.
About The GPT Group
The GPT Group (GPT) is a property company with broad access to capital invested in quality assets which, through proactive management, creates great customer experiences and superior returns. The Group’s model is focused on active ownership of high quality Australian real estate in the Retail, Office and Industrial sectors. Funds Management and selective development complement this focus.
Listed on the Australian Stock Exchange since 1971, GPT is today one of Australia’s largest diversified listed property groups. The Group has more than 45,000 investors and is one of the top 40 stocks by market capitalization.
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