Flexible office operator Table Space has raised around $300 million from Hill House Capital, a global private equity fund, to expand its operations. The investment is expected to be funded in two tranches.
“Table Space has signed some large clients recently and has been looking for funding to expand its business. The fresh funding will help them expand at a faster pace,” said multiple people aware of this transaction.
Table Space is one of the fastest-growing managed workspace providers for enterprises in India and plans to expand its footprint from the present five million square feet to eight million square feet by December 2023.
Post-Covid, with the new hybrid model of working becoming more and more popular among mid- to large-sized enterprises, the demand for outsourced offices has risen significantly in the past two years, and is continuing to thrive.
The share of the co-working sector in total transactions increased to 23% in Q3 2022 from 6% in Q3 2021.
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