Breather Raises USD $20 Million Series B Round Led by Peter Thiel’s Valar Ventures
Montreal, Quebec (PRWEB) September 17, 2015 -- Breather, the world’s leading provider of on-demand private workspace, today announced that they’ve raised a USD $20 million Series B round of financing - the largest in their category to date.
The round was led by Peter Thiel’s Valar Ventures. Others participating include RRE, Real Ventures, SOS Ventures and Slow Ventures. The latest round of investment takes total funding to USD $28.5 million.
Breather spaces are beautifully-curated, highly functional workspaces and meeting rooms that are designed for optimal productivity. Each room is equipped with a comfortable seating area and conference table, free high-speed Wi-Fi, device charging stations and a whiteboard. With over 95 locations, Breather is currently operating in New York City, San Francisco, Boston and Montreal. The money raised will be used to grow its network of on-demand spaces in these cities and expand to new markets including Los Angeles, Chicago, Washington, D.C., Toronto and London, U.K.
"We're excited to have Valar involved,” said Breather CEO and co-founder Julien Smith. “We're building a killer team and are moving quickly to build the biggest network of spaces for all who need it. We’ve received amazing support and feedback from our members - entrepreneurs, professionals, creatives, freelancers, and some of the most innovative and fastest growing companies in the world. The way people work and meet is obviously changing, and we want to give them the flexibility, convenience and privacy they need."
“Network effects are so valuable that people keep moving to crowded cities even when they're hard to live in,” said Peter Thiel of Valar Ventures. “If you can make cities work better as meeting places, you can build a very valuable business."
Breather acquires its locations via commercial office leases and revenue-sharing agreements, with spaces typically ranging from 500 - 3,000 square feet each. The company also partners with boutique hotels, commercial property owners, and small businesses in revenue-sharing agreements. For many of Breather’s real estate partners, a Breather space within their buildings serves as a value-added amenity to accommodate the need for flexible working and meeting space. Employing in-house location designers, Breather quickly transforms and beautifies commercial units to create on-demand Breather spaces.
"The traditional office is insufficient in the modern economy. Today's highly mobile and increasingly freelance workforce is untethered from conventional commercial real estate and has a growing need for workspace that is private and widely available on-demand,” said James Fitzgerald, founding Partner at Valar Ventures. “The quality and consistency of Breather's product and user experience across major cities, combined with its systems, supply network and momentum, give it a huge advantage in this category."
For more information about Breather, its latest round, or to set up an interview, please contact Jackson Wightman at the number below.
MEDIA CONTACT
Jackson Wightman
Proper Propaganda
(514) 605 9255
jackson(at)properpropaganda(dot)net
ABOUT BREATHER
Breather offers peaceful, private and productive on-demand space for individuals and professionals looking for a place to get work done, host meetings, or simply relax. Breather’s website, mobile apps and proprietary lock technology allow its members to find, reserve and unlock beautiful, practical spaces directly from their phones.
Founded in 2013 by New York Times bestselling author Julien Smith, CEO, and co-founder Caterina Rizzi, CCO, the company has nearly 100 locations in five North American cities including New York City, San Francisco, Boston and Montreal. Breather is funded privately by Valar Ventures, RRE, Real Ventures, SOS Ventures, Slow Ventures and others. For more information, please visit https://www.breather.com or download the Breather app for iOS (http://brthr.co/breather-iphone-app) and Android (http://brthr.co/breather-android-app).
ABOUT VALAR VENTURES
Valar Ventures is a globally-oriented venture fund based in New York City. For more information, please visit http://www.valar.com.
Jackson Wightman, Proper Propaganda, +1 (514) 605-9255, [email protected]
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