Jamie Hodari is the CEO of Industrious, the US' largest premium workplace provider. It has raised $222 million in funding to date and has coworking spaces in over 100 locations in 50 cities.
At a glance, Industrious may seem similar to a certain other workplace provider you may have heard of, but the company operates on a different model than WeWork, utilizing management deals in partnerships with landlords rather than signing long-term leases, a strategy Hodari said is a "stable" approach for an office provider. It's working, considering the company's last round of funding was for $80 million in 2019.
"Partnerships with landlords is a big deal," he said. "If we're going to manage 15% to 20% of a $400 million asset, and if a landlord is going to partner with us to manage and run and control the co-working space of their building, rather than signing a lease with WeWork, they're making a big bet. So there has to be a lot of trust."
He practices what he preaches. During the pandemic, he said he's often gone into Industrious' location in Prospect Heights, Brooklyn, either working alone in a room or with his cofounder. Otherwise, he said, he's going around town in a mask. The Industrious office complexes lots of private offices, so "sitting alone in a private office isn't much different than being home," he said.
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