Real estate broker HelloOffice expands to Los Angeles after closing on $6.5 million
HelloOffice, a new real estate brokerage business out of San Francisco, has nabbed $6.5 million in new financing and is absconding down to Los Angeles to open its first regional office.
The company provides software to expedite the often painful (especially in San Francisco) task of finding office space (not the Mike Judge movie, which is available to stream on Google, Amazon, iTunes and other services for $3.99).
So far, HelloOffice has worked with companies like Y Combinator, Knotel, Brex, Palantir, and Patreon to help them get the space they need.
Now, chief executive officer Justin Bedecarre says the company is ready to tackle the Los Angeles market.
“We believe LA is at an inflection point, with the biggest technology and entertainment companies in the world choosing to make LA a key hub or headquarters,” says Bedecarre. “At the same time there is a startup renaissance occurring here, building the foundation for decades of growth and opportunity.”
Fueling the company’s growth is the $6.5 million the company has raised from a slew of top tier venture funds. Investors in the company include Initialized Capital, Founders Fund, Founder Collective, Peak State Ventures, SV Angel, Liquid 2 Ventures, SaaStr, and The House Fund.
The investment is another example of investors looking to niche verticals within the broad business-to-business software category that can benefit from lightweight, flexible software offerings tailored to the specific needs of industries.
There are a lot of very large businesses that can benefit from the efficiencies software provides.
“We raised money in order to invest in our team and platform as well as to scale to new markets beyond San Francisco,” says Bedecarre. “However we have been growing so quickly while remaining profitable, we haven’t touched any of the money we raised.”