LiquidSpace Secures Additional $1.3 Million In Series B Funding

SAN FRANCISCO, May 9, 2013 /PRNewswire/ -- LiquidSpace, the web and mobile platform that helps everyone find on-demand office and meeting space, today announced it has raised a follow-on of $1.3 million to the $6 million Series B funding raised earlier this year. The funding comes from two new strategic investors – Steelcase and CBRE Group, Inc., global leaders in workplace strategy and commercial real estate.

As companies increasingly reevaluate their workplace strategies, demand for LiquidSpace's enterprise solutions continues to grow. LiquidSpace is helping large enterprises turn underused real estate into a collaborative asset with a simple internal reservation solution, while simultaneously allowing their employees to tap into the most diverse network of on-demand publicly available work and meeting spaces. LiquidSpace enterprise customers are then using the rich data set generated to make smarter workplace decisions based on real utilization data.

"We are thrilled to have the support of Steelcase, the global leader in the office furniture industry and CBRE, the world's largest commercial real estate services and investment firm (in terms of 2012 revenue), as we work with Fortune 500 companies to provide a clean, simple solution for evolving their real estate portfolio and workplace strategy," said Mark Gilbreath, founder and CEO of LiquidSpace. "We look forward to leveraging their insights and experience to advance a demand-driven model that reduces costs for companies and provides employees with more choices and reliable workspace options."

CBRE is the world's largest commercial real estate services and investment firm, serving real estate owners, investors and occupiers through more than 300 offices worldwide. 

Steelcase is the global leader in the office furnishings, products and services industry. For over 100 years, Steelcase has been bringing human insight to business by studying how people work, wherever they work.

"Many of our biggest customers are undertaking a real estate transformation and our investment in LiquidSpace reflects how critically important alternate space is to enable this change," said Sara Armbruster, VP Corporate Strategy and WorkSpace Futures at Steelcase. "We look forward to sharing our insights into workplace evolution with the LiquidSpace team as it continues to evolve its platform."

In January 2013, LiquidSpace raised $6 million in Series B funding led by The GPT Group (ASX:GPT), a top real estate trust (REIT) with participation from existing investors Shasta Ventures, Floodgate Fund and Greylock Capital. Prior to the Series B, LiquidSpace raised $1.3 million in a seed round led by Reid Hoffman of the Greylock Discovery Fund and Mike Maples of FloodGate, followed in May 2011, by a $3.785 million Series A round led by Shasta Ventures. The company's total funding to date is $12.385 million.

LiquidSpace has facilitated over 200,000 reservations across its network of over 2,000 private and public workspaces in 250 cities nationwide. The company is rapidly fueling expansion of its service through initiatives with corporate partners to serve the needs of mobile business workers. LiquidSpace will continue to drive innovation for both professionals and enterprises through its growing marketplace and enterprise services.

About LiquidSpace
Founded in 2010 and based in San Francisco, LiquidSpace is a real-time marketplace that enables anyone to find and book a space to work or meet by the hour or day. LiquidSpace serves two sets of customers: modern professionals who use the platform to book office or meeting space instantly and companies who use LiquidSpace to manage their workforce's workspace needs both internally and externally. Whether a coworking venue, business center, hotel lobby, library or private office, LiquidSpace helps business people find, book, and share over 2,000 great workspaces and meeting rooms in over 250 cities across the US. For more information, visit: http://www.LiquidSpace.com

SOURCE LiquidSpace