Coworking spaces are in a unique realm. They are not quite remote workspaces but they’re also not offices. They’re something in between, which makes them perfect for today’s workforce that during the pandemic has shied away from mandatory in-person office jobs. While Chicago has many coworking spaces, each unique in its own way, Workbox is a holistic coworking startup that gives members access to investors and lenders. And the company recently secured $3.5 million in a seed round.
Founded in 2019, Workbox has four coworking locations located in Chicago’s River North, Gold Coast, Magnificent Mile and West Loop neighborhoods but plans to go national following its recent investment.
Similar to other coworking brands, the startup sells monthly memberships for individuals and private offices for larger teams. Workbox, however, sets itself apart with its approach to additional membership models that give members more access to private spaces. It also offers Plus Memberships which allow individuals to network with over 40 angel and VC investors. Members can also access industry mentors.
Workbox’s current four locations feature cozy work accommodations with good views of the city and are located near public transit routes and restaurants. Members also get access to phone booths, printing services, high-speed internet and wellness rooms at all locations.
“We are committed to establishing ourselves as the premium national flex office operator for early and growth-stage companies,” John Wallace, Workbox co-founder and CEO, said in a statement.
The latest seed round was led by Hillsview Capital and brought Workbox’s total capital raised to $7 million since launching.
“We understand that every business is different and that our customer’s needs are constantly evolving. We built our business to offer support beyond physical space,” Wallace said. “This new funding will also allow us to expand our product offerings and internal capital resource availability for all Workbox members, which is exciting and crucial to our core focus of member success.”
Part of the new funding will be used to open Workbox locations in cities outside of Chicago and to establish a national footprint. The company is also planning to make new hires with a focus on attracting sales, operations, marketing and business development talent.
