PivotDesk is a B2B online marketplace for office sharing, positioning itself as an Airbnb-like solution for flexible workspace that avoids long-term leases. The company connects businesses or landlords with extra office space to entrepreneurs, remote workers, and small startup teams. PivotDesk announced a $3.8 million round of funding to support its expansion into 23 new cities. The funds are earmarked for marketing in those cities and for additional business development initiatives that CEO David Mandell has not yet detailed. PivotDesk is a Techstars graduate and currently comprises about 20 employees, mostly based in Boulder, where the team is executing the nationwide expansion. The company emphasizes enabling underutilized office space to generate revenue while fostering potential partnerships and entrepreneurial energy within buildings. PivotDesk operates a management and matchmaking platform that helps startups find flexible, month-to-month space inside companies with unused long-term leases. The service emphasizes cultural and operational fit, using detailed profiles and a matching process that requires interest from both parties before sharing contact information. PivotDesk provides tools for listings, communications, billing, documentation and verifies insurance and sublease rights to reduce risk. The company is a TechStars Boulder alum and is launching in New York, San Francisco and Denver with plans to expand to additional cities over the next year (including a crowdsourced next-city vote). Since its beta launch last fall PivotDesk has matched 100 companies and now lists over 200 spaces. Its monetization is a 10 percent commission each time a cohabiter renews a monthly lease; the company is backed by over $3 million in Series A funding from Foundry Group.

Total raised

$7M

Funding rounds

2

Latest round

Equity

Latest activity

May 2014