KNOTEL ENTERS THE COWORKING SPACE IN STRATEGIC JOINT VENTURE WITH GRIND

by Knotel: June 14, 2018

Knotel Expands Park Avenue South Campus with 9,000 Square Feet at 419 Park Avenue South

New York, NY — September 21, 2017 Knotel, the network of custom locations that provides modern businesses with adaptable headquarters, today announced a strategic joint venture with co-working provider Grind. Knotel will take over Grind’s 419 Park Avenue South location, solidifying Knotel’s Park Avenue South campus, including 373 Park Ave South and 475 Park Ave South.

As part of the partnership, Grind will refer inquiries from larger companies to Knotel, in addition to companies that grow out of Grind’s coworking community and are looking for headquarters space. In turn, Knotel will refer freelancers and smaller companies to Grind’s coworking community that better cater to their needs.

On the heels of our launch in San Francisco this week, we’re expanding our network of offices to provide more options to companies in New York City,” said Knotel co-founder and CEO Amol Sarva. “Knotel has grown more than tenfold over the past year, and our demand has outpaced supply. Businesses are hungry for spaces that offer flexible leases without being locked into long-term contracts, and our partnership with Grind allows us to reach more companies in need of these options than ever before.”

The way businesses work and operate is more diversified today. Whether they are small or mid-sized companies, businesses need the flexibility to expand and contract on demand, which this partnership will support. Office space can be transformational in how companies operate, and Knotel’s reimagining of the traditional office lease allows mature businesses’ headquarters to meet their real-time needs rather than forcing them into spaces that aren’t the right fit at the right time.

We’ve seen a transformation in the way all companies use office spaces over the past several years,” said Grind investor David Singer. “While long-term leases with rigid terms have been the norm for real estate over the past century, companies like Grind and Knotel offer affordable, flexible spaces, and with this partnership, we can reach more companies looking for Headquarters-as-a-Service.”

Knotel has been growing rapidly, having tripled in size since the beginning of the year and recently announcing its expansion into San Francisco. In February 2017, Knotel also announced its $25 million Series A round to cater to the overwhelming demand from company leaders asking for more locations and space.

About Knotel
Knotel runs a network of custom locations with adaptable environments that cater to modern business needs. Introducing its “HQ as a Service” model, Knotel delivers a new experience for business leaders looking for on-demand headquarters. Each managed location is designed to reflect each business’ unique ethos. Knotel eliminates the risks of being locked into long-term contracts and is transforming traditional spaces by offering catered service terms, culture-coded environments, quick setup and move in support. Founded by hyper-aware founders who set out to build something they would want for themselves, Knotel rejects the old way of doing things. Current residents are comprised of many of today’s most elite business leaders like the first investor in Spotify, the former president of BuzzFeed, the CEO of MTV, the ClassPass co-founder, the world’s largest petition platform Change.org and many more. Knotel investors include Bloomberg Beta, Invest AG, Joseph Meyer of Observer Capital, Rocket Internet, 500 Startups among others. For more information, check out www.Knotel.com.

About Grind
Grind LLC operates premium, members-only collaborative workspaces. Each location offers not only a productive, work focused environment for freelancers, entrepreneurs, mobile professionals and fast growing companies but also a community sharing advice and expertise. Current members include TripTease, Upworthy and MightyHive. Founded in 2011, Grind currently operates two Manhattan locations, in NoMad and FiDi. For more information, check out www.grind.work

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