Industrious, a WeWork competitor that offers workspace to entrepreneurs, has today announced the close of a $37 million Series B round. Riverwood Capital led the round, with participation from Outlook Ventures and Maplewood.

Industrious currently has 12 locations across the country, including cities like Atlanta, St. Louis, Brooklyn, Los Angeles, Minneapolis, Raleigh, Chicago, Austin, and Nashville.

The company offers flexible leases and private office space for one to 10 people, along with lots of common space for folks to hang out.

While Industrious doesn’t have the same software-based services that WeWork has, it offers a similar level of quality space and boasts clients like Instacart and Pinterest.

Industrious was cofounded in 2013 by Jamie Hodari and Justin Stewart, and has seen 5x year-over-year growth in revenue, according to the company.

The latest round of funding will let Industrious expand to new cities, as well as adding new locations in the cities it already serves.

If you want to learn more about Industrious, hit up the website here.



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