Workbar LLC, the third-largest provider of coworking spaces in Massachusetts, is primed for further expansion following a recent round of fundraising. According to Boston Business Journal, Workbar plans to open two new locations within the next 12-18 months and has already announced its upcoming Worcester space set to launch in September.
These new spaces, known as No. 13 and No.14 respectively, will be strategically situated closer to urban centers while still technically located in suburban areas. The company’s growth is fueled by a successful $1.2 million equity raise on top of a previous $1.5 million funding round earlier this year.
With over 200,000 square feet spread across Massachusetts alone, Workbar positions itself as a major player in the coworking industry alongside competitors like WeWork Inc., which recently filed for bankruptcy and made adjustments to their office leases.
In light of WeWork’s perceived dominance in the market, Workbar aims to redefine Boston’s coworking landscape by offering hybrid work models that prioritize accessibility from suburban areas and flexible membership options.
The article “Workbar To Add Two Locations with $1.2M” was originally published on Connect CRE.
