Knotel co-founder Amol SarvaKnotel, aiming to be the Uber of office leasing, has raised $25M, financing that the rapidly growing firm’s co-founder, Amol Sarva, said will be used to open 40 more locations in New York City by next year. While Sarva said $25M is a “tidbit” in venture capital land, in the real estate tech realm it is a pretty big deal. “This financing signifies that we’re opening a new front in the way people find and use office space,” said Sarva, also a co-founder of Virgin Mobile. Knotel provides 50 enterprises with custom HQs in various locations across New York, and the company has grown at a breakneck pace. In a $1 trillion New York office market that is dominated by long-term lease deals, Knotel’s e-commerce-inspired business model can help burgeoning firms remain agile, grow fast and save money.

Source: Forbes February 24, 2017 21:32 UTC