Cowork startup Mindspace raises $15 million round to lay groundwork for challenge to WeWork


Tel Aviv-based Mindspace is going on an expansion drive with the Wednesday announcement it raised $15 million in a Series A funding round.

They will push themselves as the aesthetically-minded coworking space, promising “exciting and inspiring” design. Their desire for style and flair is obvious in images of their Tel Aviv office spaces. Like other working hotspots they offer open space, meeting rooms, private offices, and event space.

So far they have taken their desire to move forward to Germany with a sport on Friedrich Street in Berlin and Rödingsmarkt in Hamburg. Mindspace’s website is already promising the opening of a new Munich workspace Viktualienmarkt and two new Berlin branches on Krausen Street and Skalitzer.

They are hoping to bring their global number of branches up to nine with at least 5,000 members and take up 350,000 square feet. Their initial primary target will be the United States, presumably Silicon Valley. At the moment they have 40 employees, but the company informs Geektime they will at least double that figure once their expansion is complete if not earlier.

Mindspace (courtesy)

Asked to explain their design strategy when it comes to opening in new locations and input from potential members, the company’s leadership was enthusiastic to delve into the question.

“Our overall aim is to maintain the same Mindspace look and feel across all our sites while giving it a local flavor,” Mindspace Co-Founder and CEO Dan Zakai told Geektime in an email. “Our design concept focuses on a boutique feel filled with warmth & lifestyle creating a community surrounding and atmosphere that motivates our members and inspires them.”

Mindspace (courtesy)


WIth that in mind, the company does indeed try to incorporate something unique inspired by local tastes and with references to surrounding culture.

“We have a dedicated design team that works across all Mindspace sites. The local flavor comes from adjustments based on the nature of the neighborhood together with local artists, and furniture and accessories from local markets.”

Mindspace (courtesy)

But such a massive recruitment effort surely would require advance groundwork to get the word out.

“In new locations in new cities we focus on brand awareness via PR, social networks, partnerships and event hosting for our future community members. We promote Mindspace with an aggressive push to create the buzz around our brand and product in order to grab the attention of potential members and the creative and tech community.”

Mindspace (courtesy)

That push, Zakai foretells, will be the harbinger of good things to come for Mindspace in its efforts to cast itself as an indispensable hub for local talent and startup initiatives.

“After some time, Mindspace becomes a hub for many members and visitors so our brand of word of month play a significant role in attracting more members.”




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