A Rocket Internet-backed rival to WeWork has leased more buildings in New York City than its SoftBank-backed competitor and aims to overtake it as the city’s biggest private occupier of office space next year.
Knotel, which has raised $100m from technology and real estate investors, provides flexible offices aimed at mid-sized businesses, with the companies’ own brands — rather than Knotel’s — over the door.
Amol Sarva, chief executive, said the group has 70 locations in New York versus WeWork’s 48, and will have opened 150 in the city by the end of this year. WeWork has another 11 locations scheduled to open in New York to take its total to 460 sites globally.
