YEC member company Convene partnered with Brookfield Property Group to operate meeting and conferencing centers at its first-rate office buildings around the world. Brookfield Property Group, a major real-estate investment platform, also led a funding round with asset management firm Arrowpoint Partners of $20 million for Convene.
Ryan Simonetti and Christopher Kelly, both YEC members, co-founded Convene in 2009 to combine technology, hospitality, and design to transform the workplace experience. Convene’s workplace-as-a-service platform provides on-demand meeting and hospitality solutions for building tenants and their employees.
"The core business is still 'Zipcar' for meeting space," Simonetti told Crain's. "But in the past 24 months, we've started to get asked to do other things. If you think about what a full-service hotel offers, that's what we think we can do."
The funding will further accelerate the Manhattan-based company's from its previous round of $16 million. Simonetti also mentioned the possibility of a Series C of over $100 million in the near future. He hopes Convene will be able to offer flexible work-space and support services to both small and enterprise companies, similarly to multibillion-dollar franchise WeWork.