Why Revolution is Partnering with Convene

The emerging flexible workspace industry, or its most common and well-known application “co-working,” has become a mainstream phenomenon in recent years and a heated discussion topic not only among real estate pundits and venture capitalists, but also in professional circles of all sorts who are increasingly questioning the status quo of office space. Thanks to the trail aggressively blazed by WeWork, the genie is now out of the bottle for businesses who realize that they are no longer bound to the outdated tradition of long-term, rigid lease commitments. Instead, companies both big and small are rapidly embracing variable and elevated workplace experiences in a variety of new and exciting ways. The explosive growth of the co-working industry is not only the result of business model innovation around lease management, but also a result of the powerful forces of millennial habits and values, a burgeoning freelance economy, and the penetration of technology and amenity experiences within the workplace.

Revolution has watched this evolution, it has become clear that providers of several sorts have emerged to join the flurry of an industry experiencing rocket ship growth. To compete with early movers like WeWork and Regus, some startups focus on the SMB/freelance economy, some on transforming workspaces in specific regions, and some on incorporating specific services like childcare or education into their offering, but we have found very few that have the scale, strategy, team, and vision to break away from the pack.

Revolution is proud to announce that we are partnering with Convene, a leading provider of flexible workplace solutions and a company that we believe is well-established and well-positioned to become a leader in this new and exciting category. Central to our investment thesis is our view that Convene’s product offering is much more than “co-working” and positions the company as one of the most multifaceted and defensible assets in the sector today. Convene provides bespoke, fully managed amenity offerings for top-class office buildings that incorporate premium conference and event space, flexible-term office space, and first- and third-party services (e.g., catering, dry cleaning, fitness experiences), all of which are integrated and delivered through proprietary technology. In addition to a uniquely bundled product offering that resonates with both landlord and customers, Convene has set itself apart from competitors through its long demonstrated focus on enterprise clientele, it’s history of delivering high-end hospitality experiences, and its deep alliance model with forward-thinking asset owners (many of whom are investors).

We believe Convene has a truly differentiated vision for where this market is headed and an unparalleled track record of execution. Revolution is proud to partner with them as they continue to build a bright future.