Daybase, a hybrid work company, announced it has closed on a $9.6 million seed funding round from Silicon Valley venture capital investors, founders of acclaimed consumer brands and prominent families synonymous with New York City real estate.
This round of financing will enable development of the company’s growing network of on-demand, professional-grade coworking locations in residential areas, along with new tools to support hybrid workers and companies.
The funding round was led by True Ventures (Peloton, Sweetgreen, Blue Bottle Coffee, Ring), and included participation from Company Ventures (Carta, RobinHood); Good Friends (from the founders of Allbirds, Harry’s and Warby Parker); and New York City real estate owners including the Milsteins, Lefraks and Rudin Ventures, among others.
“One differentiator between a good and great opportunity, in our experience, is when a founding team has worked together and engaged with a problem before, and Daybase’s has,” said Ariel Winton-Jones, Principal at True Ventures. “Hybrid work is an enormous new frontier forcing sudden changes for nearly every company and millions of workers – and their families – worldwide. As investors in both consumer brands and a number of tools for remote work, we’re excited to back more founders defining the hybrid future. Daybase’s founding team brings tons of relevant insights and experience in execution, along with constructive curiosity, to this massive market.”
The investment marks the company’s second significant milestone in recent weeks, after the successful opening of the first Daybase location in Hoboken, New Jersey.
“The future of work is here,” said Daybase CEO Joel Steinhaus. “This investment in Daybase is a strong show of confidence in our vision to offer workers everywhere the flexibility and convenience of on-demand work spots close to home. We are thrilled to welcome this strategic group of partners joining our mission to make Daybase the space for you to seize your workday wherever you are.”
Daybase’s strategy to deliver solutions for this new paradigm confronting companies and workers consists of developing a national network of local work spots, offering knowledge and resources for navigating hybrid work, and curating team-based experiences for hybrid companies.
Daybase’s second and third locations, in Harrison, New York, and Westfield, New Jersey, respectively, are under development and set to open later this year, with nationwide expansion to follow. As part of its strategy to achieve scale through local partnerships, Daybase has developed its early locations in close collaboration with building owners so they can offer Daybase membership as an amenity for residents of multi-family and mixed-use developments, as in Hoboken and Harrison.
Daybase also is a federally registered and approved franchisor, providing the opportunity for local entrepreneurs to own their own hybrid work location through the Daybase platform.