Brooklyn coworking giant Industrious raises mammoth $80 million

Brooklyn-based Industrious, one of the largest coworking space companies in the country, announced Tuesday morning it had raised $80 million in a Series C round.

The funding round was led by two investors, Riverwood Capital and Fifth Wall Ventures.

Industrious has 35 locations in the country, including just two in New York, one in Prospect Heights and the other at Union Square. Most of its locations are in cities that are not normally considered startup hubs, such as Indianapolis, Phoenix and Tampa. Its 35 locations are spread out over 25 cities.

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The company’s spaces in Brooklyn costs $495/month for coworking and starts at $595 for private offices.

The funding round brings the company’s total funding to $142 million. Industrious employs around 75 workers.

When we talked to cofounder and CEO Jamie Hodari in 2016, he predicted that coworking would continue to become decentralized across cities.

“The next wave of coworking will serve residents of specific neighborhoods, even if it’s inconvenient to get from there to Manhattan,” he said at the time.