Industrious raises $37 million to open 12 new coworking spaces

Upscale coworking space Industrious announced today that it has scored a $37 million series B round to compete with WeWork in more cities.

Backed by Riverwood Capital, Industrious says it aims to open 12 new locations and expand the services it offers in its current regions, including New York, Los Angeles, and Austin.

“As we experience a transformation in how people work and collaborate, we’ve aligned ourselves with Industrious to transform the workplace and offer a premium solution to corporations, small businesses, and entrepreneurs,” said Riverwood Capital founder Francisco Alvarez-Demalde.