PivotDesk closes a $3.6 million round for its 23-market expansion

by Carlin Sack
May 8, 2014

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The team behind office-sharing marketplace PivotDesk has “spent the last two years engaged in hand-to-hand combat working our asses off to build the platform everywhere and every way we could,” co-founder and CEO David Mandell said.

The hard work is paying off, though. Boulder-based PivotDesk has a win in its book already this year: a $3.6 million investment with participation from board members David Cohen of TechStars and Jason Mendelson of Foundry Group.

Cohen has been a long-time backer of PivotDesk, supporting Mandell and his company even before it was accepted to the TechStars Boulder 2012 program. After PivotDesk graduated TechStars and launched in Boulder as its first market, the team closed a $3 million round from Cohen, Foundry Group and Draper Associates.

This investment will help PivotDesk to expand from six markets to 29, which Mandell announced in a blog post last week. LA, Seattle, Chicago and Austin are just a few of the cities on the expansion list which will ultimately allow PivotDesk to help thousands of people find office spaces in 2014, marketing manager Drew Frey said.

All this market expansion doesn’t necessarily mean a lot of hires, though. PivotDesk is keeping a lean team, only looking to add a software engineer and an account manager to the team in Boulder, Frey said: “We have built a business model that allows us to serve our customers regardless of location.”

Customers use PivotDesk to find office space and also rent out extra space to other startups for a monthly fee. Boston-based BuysideFX was one of these companies sharing a space with Woosports via PivotDesk. The bond the two teams created in their shared space resulted in BuysideFX’s CEO Ty Danco actually making an investment in Woosports.

“None of that would have happened without his PivotDesk experience,” Frey said. “We’re looking forward to continuing to help grow businesses across the country.”

Jobs at PivotDesk

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