AUSTIN, Texas, Feb. 18, 2020 /PRNewswire-PRWeb/ -- Swivel, Inc., an agile office leasing platform, has closed an $8 million Series A round led by Jim Breyer of Breyer Capital. Also participating in the round is JLL Spark, a strategic global venture fund investing in startups transforming commercial real estate through technology. The financing will be used to fund Swivel's continued nationwide expansion and for further investment in its agile leasing platform and tenant-broker partner program.
"The future of real estate will continue to be defined by the demand for flexibility," said Jim Breyer, founder and CEO, Breyer Capital. "Swivel is positioned to redefine the entire office leasing experience for startups and established companies alike by eliminating upfront costs and move-out penalties. Swivel brings an innovative fintech-based approach that allows landlords to streamline leasing through terms that deliver the value of flexibility to tenants, as well as their investors."
Austin-based Swivel enables pre-qualified member companies to contract with its landlord partners for creative, turnkey office space on flexible terms with little or no up-front capital expenditure and no lease lock-in. Landlords use Swivel's agile leasing platform to backstop their leases for member companies, eliminating the risk and uncertainty usually associated with offering more flexible lease terms.
Since its network launch in 2019, Swivel has signed up more than 30 landlords representing more than 150 properties across Austin, Dallas and Houston. Backed by Swivel, these landlords have consummated agile leases with a wide variety of both venture-backed tech startups, as well as multinational companies that require flexibility for their satellite offices.
Companies can learn about agile office leasing directly at swivel.work, as well as through its growing network of authorized tenant broker partners. Find Swivel on LinkedIn and Twitter: @SwivelWork, and follow Swivel's blog to stay on top of company developments, news, events and happenings.
About Swivel
Swivel is on a mission to transform the entire office leasing experience for landlords, brokers, and tenants alike. A workspace network that features agile leasing, Swivel gives member companies the freedom to move whenever office needs change. More and more companies prefer this approach over traditional office leasing because they can get exactly the right amount of space they need, when they need it, and have greater control over one of their largest expenses. To learn more, visit http://www.swivel.work.
About Breyer Capital
Breyer Capital is a premier global venture capital and private equity investor focused on catalyzing high-impact entrepreneurs in the US and China. Founded by legendary investor Jim Breyer in 2006, Breyer Capital makes long-term, idea-driven strategic investments in artificial intelligence, digital health, data analytics, social media, and financial technologies. The firm prides itself on maintaining an openness to experimentation that can lead to long-term breakthrough performance and partnering with founders and teams who are passionate about building transformative companies anchored in technology. For more information, please visit http://www.breyercapital.com.
About JLLSpark
JLL Spark is a division of JLL (NYSE: JLL) that operates a $100 million global venture fund to invest in proptech companies transforming commercial real estate. Led by experienced Silicon Valley entrepreneurs with successful track records building and investing in tech companies, JLL Spark's strategic proptech investments offer JLL the ability to provide innovative products to real estate owners and operators. JLL Spark was founded in 2017 and is headquartered in San Francisco. For further information, please visit http://www.jllspark.com.
SOURCE Swivel, Inc.
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