Workplace Hospitality Platform Convene Raises Additional $20M in Series B Funding
Summary
The company intends to use the funds to expand its presence from 10 locations to over 20 and will include several key strategic acquisitions.The equity round, which was supplemented by $15m in strategic debt financing from Arrowpoint Partners, which includes a $30M accordion option, will be followed by a much larger Series C round later this year to support the company’s international expansion and add new product and service verticals to its evolving platform.Led by Ryan Simonetti, CEO and Founder, and Chris Kelly, Co-founder and President, Convene operates a network of meeting, event, and conference venues that combine technology, culinary, production, and human-centered design.In partnership with commercial landlords, the company leverages its workplace-as-a-service platform to provide on-demand amenity solutions for building tenants and their employees.It currently serves over 150,000 participants each year across 10 locations along the East Coast of the United States.