ROOM Raises $12.5m in Series A Funding to Drive Vision for a Better Future of Work
Top VCs and Renowned Architect Lead Funding Round to Fuel International Expansion and Product Development for a World Post COVID
NEW YORK, August 5, 2020 - ROOM, the startup reshaping the modern workspace, today announced it has closed a $12.5 million Series A round to fuel the upcoming expansion of its product portfolio with a suite of modular architectural solutions designed to meet crucial demand for adaptability and flexibility in the office. Backed by top VCs and renowned architects, ROOM will launch three new solutions beginning this month to further its mission of creating the purpose-built workspaces of tomorrow.
Reeling from the impact of COVID, offices are scrambling to find solutions that accommodate virtual collaboration, enforce social distancing, and allow for quick configurability as the needs of employees change quickly. ROOM is doubling down on the office not only being here to stay, but also requiring more innovation than ever before. Designed for adaptability, ROOM’s new products provide modular spaces that are purpose-built for focused work and collaboration. The new portfolio is priced to be a fraction of the cost of construction, flexible to any environment, and easy to assemble and disassemble as company and employee needs change alongside the global health crisis. ROOM will further introduce density sensors into its product suite, opening the door to data-driven floor plans that empower employers to make their workspaces as productive and efficient as possible.
“COVID has forced an unprecedented examination of the role that offices play and has shown us that the office as we knew it wasn’t that great in the first place,” says ROOM co-founder and CEO, Brian Chen. “Fundamental changes to how we think about work are afoot, and at ROOM, we’ve always believed in a future that’s flexible. Our adaptive vision is perfectly suited to this moment in history, and will give businesses the tools they need to create an agile, productive, and inspiring work environment for all.”
The round was led by Slow Ventures, a Silicon Valley venture capital firm with investments in Airtable, Pinterest, Allbirds, and Slack. SJF Ventures, Lerer Hippeau, and FJ Labs participated in the round alongside world-renowned architect Bjarke Ingels, founder and creative partner of Bjarke Ingels Group (BIG), and notable angel investors. In addition, Dave Kirkpatrick from SJF Ventures has joined the company’s board of directors and Ingels has been named to ROOM’s advisory board.
“The needs of modern workers have dramatically shifted due to the pandemic,” said Kevin Colleran, Managing Director at Slow Ventures. “The team at ROOM is helping companies define their strategies for returning to work, and the ROOM brand is becoming synonymous with how to create innovative, safe, productive work environments. We believe ROOM’s vision for adaptive architecture has the potential to completely revolutionize the commercial real estate industry as we know it.”
“Access to better architecture should be easier for all and I see ROOM as a great democratizing tool that can help pave the way for people to adapt more flexibly to their workspaces. I am excited to invest in ROOM and join the advisory board,” says BIG Founder and Creative Director, Bjarke Ingels, whose projects include LEGO House in Denmark, Google’s Mountain View and London Headquarters, and VIA 57 West in New York.
Founded by Brian Chen and Morten Meisner-Jensen in May 2018, ROOM became the first to solve the problem of noise at scale with the introduction of its inaugural product, an award-winning, soundproof phone booth that is easy to assemble and move around. Since then, the company has seen tremendous growth and expansion. In the last year alone, ROOM doubled its customer base and reached $30 million in revenue. At the end of 2019, ROOM expanded into Europe, launching operations in the UK, France, Germany, Denmark, Belgium, Luxembourg, The Netherlands, Austria, Switzerland, Sweden, Norway, and Ireland. ROOM works with more than 3,000 customers around the world, including NASA, Samsung, Google, Salesforce, and Uber.
ROOM is based in New York City with showrooms around the world in San Francisco, Los Angeles, Copenhagen, Berlin, Paris, and London.
ROOM is reshaping the modern workplace to create the offices of the future around the world. Transitioning from a stagnant floor plan to one that is adaptive, ROOM offers modular and creative architectural office solutions that foster team collaboration, individual work, and everything in between. ROOM helps companies of all sizes create a better work environment
Launched in May 2018 by serial entrepreneurs Morten Meisner-Jensen and Brian Chen, ROOM is backed by Slow Ventures, alongside notable VC firms and angel investors from Silicon Valley. Recognized by Fast Company in its 2020 Most Innovative awards and named one of the Best Inventions of 2018 by TIME Magazine, ROOM is already building the workplace of tomorrow for over 3,000 clients ranging from budding startups to Fortune 500 companies, including Nike, J.P. Morgan, Google, and Salesforce
To learn more about ROOM, visit www.room.com.