Boston-based WeWork Rival Workbar Expands Footprint with $1.2M Raise & 2 New Coworking Spaces

Workbar LLC, the third-largest coworking space provider in Massachusetts, is gearing up for expansion, according to the Boston Business Journal.

Current Status and Future Goals

With around 5,000 members, Workbar is preparing to launch two new locations within the next 12 to 18 months, along with a Worcester space opening in September. These new spaces, identified as No. 13 and No. 14, will be strategically situated closer to urban centers, despite being technically in the suburbs.

Financial Backing

The expansion initiative is supported by a recent $1.2 million equity raise, following a $1.5 million funding round in 2021. Workbar, spanning 200,000 square feet across Massachusetts, positions itself as a significant player in the coworking landscape, rivaling WeWork Inc.

Repositioning Strategy

In light of WeWork's perceived dominance, Workbar is aiming to redefine Boston’s coworking scene. With WeWork's recent bankruptcy filing and adjustments to office leases, coworking providers like Workbar are adapting to hybrid work models. They are emphasizing suburban accessibility and flexible membership options to cater to evolving workspace preferences.