Knotel  CEO/co-founder Amol Sarva Knotel

Office space rental startup and WeWork competitor Knotel has raised $60 million in a new round led by new investor Northwest Venture Partners whose managing partner Jeff Crow will now be joining its board.

Knotel which launched 2016 and is now available across 4 main regions has now raised $160 million in equity with this new round. It operates locations across New York, Berlin, San Francisco and  London and has grown by a rapid rate taking on $160 million in funding in just nearly 2 years with a count of over 60 locations more than 1 million square feet as of current.

The company’s locations are geared for established and growing brands with a provision of flexibility in its rental models. Knotel CEO Amol Sarva is notably the co-founder of Virgin Mobile, Peek and Halo Neuroscience marking a solid background in the business space and a longtime experience applied to Knotel’s rapid growth.

image : Knotel

Knotel’s 2,000 member network include companies like Starbucks, Cheddar, Stash, The Body Shop and Teachable whom make use of its flexible and customizable plans for office leasing. Amidst growth in the co-working space dominated by WeWork, several other players have popped up with innovative and unique methods of providing office rental at better and more adjustable rates for enterprises ranging from both small businesses to large corporations.

Although WeWork leads by a huge margin with a far greater war chest and over 5000 employees across 474 locations spread across 94 cities, Other competitors like Knotel and China based Ucommune are beginning to boost operations while catching up on competition in the rapidly evolving and growing co-working space.

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