Homegrown coworking chain cove raises $3.4 million

D.C.-grown coworking chain cove has raised $3.4 million, DC Inno reported on Thursday.
The two-year-old company also announced the hire of Nicholas Stafford, a former LivingSocial VP, as COO. Cove raised a $2.8 million Series A in May of last year.

Excited to announce our $3.4M raise for expansion in Boston & into new markets. https://t.co/f4cwcnTlsL via @DC_Inno pic.twitter.com/AB4bUmGFDO

— cove (@coveDC) May 12, 2016

According to his DC Inno interview, cove CEO Adam Segal views the $3.4 million convertible round as just the beginning. He said the company intends to raise more in the fall as it looks toward expansion in new cities next year.
Cove currently has nine locations in the DMV area and two in Boston. Another two locations in Boston are slated to open soon.
Coworking options and locations just keep multiplying in D.C. (and other East Coast cities).
WeWork is opening yet another new location near U Street “soon,” and MakeOffices has a “flagship” space in Clarendon in the works. Meanwhile Reston-based Refraction celebrated the grand opening of a bunch more square footage on Thursday — the company has doubled its available space to 23,000 square feet.
And as for something even less traditional, Croissant recently launched in D.C. as a go-to for people who want to experiment with a bunch of different coworking spaces. As the pièce de résistance, of course, there’s always yoga coworking.