Remote workspace startup Gable has announced the raise of $16 million in funding. The funding round was led by SemperVirens and Foundation Capital, with participation from Tishman Speyer ventures, Ulu Ventures, and January Ventures.
The company intends to use the funds raised to accelerate growth and expand operations. Gable co-founder and CEO Liza Mash Levin said, “Most employees want flexibility, but they also want the ability to meet with coworkers and connect. Meanwhile, companies find it hard to provide workspaces across locations, stay on top of budgets, and have insight into how the spaces are being utilized. That’s where Gable comes in.”
Also speaking on its partnership with Gable, principal at SemperVirens Colin Tobias said, “The world of work is changing rapidly, and there is a growing need for creative, and powerful solutions that help companies build connected and engaged teams while supporting flexibility. The Gable team has built a differentiated, people-focused solution and we’re excited and proud to support them in powering the workplace of today and tomorrow.”
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Partner at Foundation Capital Lauri Moore said,“Figuring out if, when and how people need to come together is a layered cake of operational questions around employee retention, productivity, real estate costs”.
Gable was launched in 2020 when the COVID-19 pandemic ravaged nearly the whole world, which forced a lot of companies to switch to remote work and fundamentally change how and where teams worked.
With the rise of remote work, Gable has provided a one-stop-shop for managing employees’ remote working options. Through the startup portal, employees can search for and book a spot at a locally available workspace in 26 different countries and employers can manage payments.
According to Gable, companies currently using its service have seen their employees’ interest in coming into an office increase by 75%. The startup claims its service provides support to multiple different teams within a company, from HR and people operations to real estate and workplace teams, saving both time and money.
Gable provides a workspace-as-a-service platform that transforms residential homes and commercial spaces into distributed workspaces, helping professionals find nearby, safe, and secure workspaces to share with their colleagues or a small group of vetted, like-minded people.
Its pay-as-you-go model is designed to give control to companies over how much they spend on flexible working places and hopefully reduce costs as well. Gable suggests that its tools can help to reduce real estate costs by giving companies an overview as to how they are spending their money on workspaces. It also aims to be a time-saver by providing integration for its centralized management suite with HRIS tools and Slack.
The startup has rapidly grown with over 50 companies such as Wheel and Docker and 5,000 employees using the platform.