TLDR:
– Investors are targeting coworking real estate other than WeWork
– Startups like Switchyards, Radious, and Jarvo are gaining funding and expanding
In the article “Investors Target Coworking Real Estate Other Than WeWork,” Richard Lawson discusses how a trio of technology venture capital firms invested in the startup Switchyards, which focuses on coworking as a real estate endeavor. Despite WeWork’s financial struggles, Switchyards plans to expand to 200 locations in the U.S. South over the next five years. Other startups, like Radious and Jarvo, are also gaining funding and expanding their operations to cater to the needs of remote and hybrid workers.
Switchyards, founded by Michael Tavani, aims to capture the available days for remote work globally. Radious, on the other hand, operates a marketplace connecting homeowners with remote workers and providing alternative work locations. Jarvo, a London-based concept, recently launched in New York City, offering residential spaces for short-term work use.
The startups are targeting remote and hybrid workers who seek a balance between work and home life. Switchyards brands itself as a neighborhood work club, focusing on unique, walkable neighborhoods. Radious listings are predominantly placed in suburban areas, while Jarvo offers quick access to listings in various London neighborhoods.
Despite WeWork’s challenges, the hybrid work model seems to be here to stay, with CEOs showing an increased interest in hybrid work options. The startups are providing innovative solutions for workers seeking flexible work environments away from traditional coworking spaces.
