Flexi office booking platform Hubble raises £4m in funding

Aims to become the Booking.com of office space.

Hubble, the online platform for flexible office space, has secured £4 million in Series A financing from a group of investors, spearheaded by JLL Spark Global Venture Fund.

The investment is the JLL Spark Global Venture Fund’s first in Europe.

The Series A round takes Hubble’s total investment so far to £6.4 million over three funding rounds as it vies to be the world’s largest online platform for flexible office space.

Hubble, which operates in London and Manchester, is one of the UK’s fastest growing technology companies, placing a business in a new office every three hours. It lists over 5,000 offices on its website, covering the whole flexible office market.

This marks the first European investment for JLL Spark, the Silicon Valley-based venture capital arm of JLL.

Other investors include Downing Ventures and the directors of M7 Real Estate (owners of commercial property management and data software Coyote). Starwood Capital (via proptech fund Concrete), an existing investor, also increased its stake significantly.

Hubble, led by Tushar Agarwal and Tom Watson, has previously been backed by some of the biggest names in the UK tech scene, including former Dragon (BBC Dragon’s Den) James Caan and Streetcar (now Zipcar) founder Brett Akker.

Rohan Silva, former technology advisor to David Cameron, also co-founded the Hubble platform.

Hubble’s technology allows clients to search and compare across an increasingly large and fragmented market. Hubble’s ultimate ambition is to be the Booking.com for flexible office space worldwide.

The fresh round of funding will be invested in Hubble’s tech platform. The company already owns London’s largest real-time dataset on flexible office space and will invest further in its data infrastructure and tooling, helping flexible office providers such as WeWork improve their offerings.

According to JLL, 30 per cent of corporate portfolios are expected to be flexible office space by 2030.

In London, flexible office space has increased from 0.5 per cent of total office space to 5 per cent in just five years.

Hubble’s clients include large providers such as WeWork and IWG and it has tripled its revenues over the past year, working with clients including Jaguar Land Rover, Monzo Bank and Funding Circle.

Mihir Shah, co-CEO at JLL Spark, said: “We continue to see an increase in demand for flexible office space, and Hubble’s technology platform does a great job streamlining the process of connecting a wide array of businesses with the right space for them. We are excited to help the Hubble team scale their platform with JLL’s global reach and expertise.”