Indonesian Co Working Startup Secures $10M in Series A Funding

GoWork, which is a Jakarta, Indonesia-based coworking space provider, today in a report has announced that they have raised an amount of $10m in the funding round of Series A.

The round was led by Gobi Partners and developer Indonesian Paradise Property. The company as of now has a plans to use the funds to bolster operations, increasing coworking space from the current 10,000 sq. meters to nearly 25,000 by early 2019.

The company which is founded and led by CEO Vanessa Hendriadi, GoWork offers shared workspace options ranging from a hot desk for about $8 per day to a private office at a monthly fee of $183 at offices across Jakarta, Surabaya, and Bali. The majority of its 600 corporate clients are established tech companies such as Southeast Asian ride-hailing leader Grab, as well as multinationals.

The startup received a $2.5m investment led by Ucommune, China’s largest coworking company, in the year 2017.

GoWork as of now operates in 16 ‘hubs’ which are its main locations for 8,000 members and operate at over 90 percent occupancy. Apart from just, that reach is extended by a series of over 30 ‘spokes.’ Those are essentially smaller spaces that are designed to be accessible while members are traveling or wanting to work outside of normal business hours.

“We want to bring productivity to all people, we think that [issues like traffic jams] are costing us all money,” GoWork CEO Vanessa Hendriadi said in an interview.

“Co-working is not a category anymore, it’s just how people work,” Hendriadi added. “WeWork has 57 spaces in Manhattan alone, it’s just a matter of time for when every office building or mall in Jakarta will need to have a space as this is a permanent shift in how people work.”

“We’re all here to educate the market and fulfill their needs,” she added. “Indonesia is the market we are familiar with, the opportunity is still massive so we’ll focus here, but we talk to big players in the region so when the opportunity comes with the right partner we won’t close any doors.”

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