CommonGrounds Workspace
Enterprise-grade, human-centric Workplace-as-a-Service (WaaS) company.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
$40.0m | Series A | ||
| Total Funding | 000k | ||
CommonGrounds Workspace, established in 2015, operated in the flexible office and coworking sector, positioning itself as a Workplace-as-a-Service (WaaS) provider. The company was headquartered in San Diego, California, and led by CEO Jacob Bates. It catered to a diverse client base, from individual entrepreneurs and startups to Fortune 1500 companies, by offering scalable and customizable office solutions.
The company's business model focused on collaborating with property owners to deliver enterprise-grade, flexible office environments. This strategy was underpinned by a significant $100 million Series A funding round in January 2019, which was intended to fuel an aggressive expansion to approximately 50 locations across the United States. Investors in this round included Pacifica Enterprises, Inc., The Davidson Group, and Mohamed Alabbar. CommonGrounds' revenue was generated through flexible membership plans, including communal space access, dedicated desks, and private offices, allowing clients to scale their workspace on demand.
A key feature of CommonGrounds' service was its "Hackable Environments™". This involved using proprietary demountable wall systems from Italian manufacturer Tecno and customizable furniture, which allowed for the rapid reconfiguration of office layouts to meet specific client branding and spatial needs. Amenities were a core part of the offering, including sit-stand desks, ergonomic chairs, acoustically enhanced phone booths, secure keyless entry, and enterprise-grade gigabit internet infrastructure. The company aimed to create human-centric environments that could help businesses attract and retain talent by providing a productive and comfortable workspace. By early 2022, the company was actively promoting its spaces as ideal solutions for businesses implementing hybrid work models, emphasizing short-term agreements and the ability to adapt to changing workforce needs.
Keywords: CommonGrounds Workspace, Jacob Bates, flexible office space, Workplace-as-a-Service, coworking, WaaS, enterprise-grade workplace, Hackable Environments, demountable walls, office reconfiguration, San Diego startup, Pacifica Enterprises, hybrid work model, shared office, scalable workspace, corporate real estate solutions, flexible leases, managed office spaces, office amenities, workplace productivity