As the co-working space trend continued to gain momentum and popularity, it was inevitable that trends within the trend would blossom—like placing these flexible workspaces in retail centers for tenants’ convenience. Well, Convene, a leader in the co-working space provider industry has taken the trend a step further by bringing retail into its flex spaces.
Convene recently announced a company-wide partnership with New Stand, a retail and media startup that has a growing amenity set and audience engagement platform, the company said in a release. The companies plan to combine their complementary offerings in the fall and Convene will bring New Stand to four of its locations in New York City and Los Angeles. The initial Convene-New Stand union will be at Convene’s headquarters at 101 Greenwich Street in Lower Manhattan.
Convene’s mission is to, “humanize the way people work” and to accomplish this has aggressively sought out partners like New Stand that share a common vision for reshaping people’s daily experiences and routines. With New Stand inside of Convene’s spaces, the latter’s clients will have access to in-store conveniences like on-the-go swappable phone chargers, office and technology accessories and locally-made products and gifts.
“Our mission at Convene is to create magical, hospitality-driven workplace experiences for every single member and customer that walks through our doors,” Convene CEO and co-founder Ryan Simonetti said in a statement. “By partnering with New Stand, a like-minded company that is looking to modernize and optimize the rhythms of our daily lives, we are adding another level of tech-enabled convenience and best-in-class amenities to our clients and landlord partners.”
“New Stand is on a mission of day-improvement,” New Stand CEO Andrew Deitchman said in a statement. “We do this by providing people the things they need within an experience they want to have, both in our stores and our app. Likewise, Convene is creating environments where people want to work, meet and can better connect. New Stand and Convene are very much aligned in a pursuit of re-thinking our daily experiences through modernized services and clever uses of technology. We’re coming together to better serve people at their place of work in a myriad of essential and unexpected ways.”
New Stand was founded in 2015 and currently operates 30 locations across four cities. With the upcoming openings across the Convene portfolio and three new airport stores, New Stand will have 13 airport locations with 50 additional planned locations for next year.
Prior to its newly found partnership, Convene secured a $152 million Series D round of financing that included investments from Revolution Growth, RXR Realty, ArrowMark Partners, Brookfield, The Durst Organization and more. With this significant fund, Convene plans to expand its footprint globally, expand its service offerings and launch a new workplace technology platform. By the end of this year, Convene will have 23 locations in five cities totaling approximately 700,000 square feet and is projected to have 45 locations with 2 million total square feet of space in 10 US cities by the end of 2019.