WeWork Inc., a leading flexible space provider, announced today a strategic and exclusive partnership with Upflex, a coworking aggregator and global flexible workplace startup. The exclusive partnership will establish a combined global network of over 5,500 locations and provide WeWork and Upflex’s clients with enhanced flexibility as they adopt hybrid work strategies. WeWork will also participate in Upflex’s Series A funding alongside additional investors.
Through the partnership, both WeWork and its members will gain access to Upflex’s fast-growing, aggregated portfolio of over 4,800 third-party spaces, provided by over 700 flexspace operators across 80 countries. WeWork will be the exclusive flex workspace operator to sell Upflex inventory to its members, allowing WeWork members to access Upflex’s vast network of third-party spaces while maintaining a streamlined experience through WeWork as their single workspace provider.
Additionally, this partnership will position WeWork to roll out enhanced WeWork Access membership options where members will have the ability to search, view and book space at select non-WeWork locations within the Upflex network. The expanded scale across non-core WeWork markets globally will allow members to choose from a wider array of tailored, flexible space solutions that best fit their specific real estate requirements.
Reciprocally, Upflex will be the exclusive coworking aggregator to access WeWork’s global inventory, allowing both Upflex’s customers and employees to book workspace at WeWork locations through the Upflex platform and marking the first time WeWork has allowed workspace bookings from a third-party platform. This partnership will also enable all coworking brands on the Upflex network to leverage WeWork's community of more than 28,000 member companies around the world.
Sandeep Mathrani, CEO of WeWork, said, “We are pleased to invest in and partner with the great team at Upflex, whose vast network of flexible office locations and offerings are a strong addition to WeWork’s portfolio. As we look to the future of work, this partnership will not only drive more value in our own product offerings for WeWork members, but also promote a more innovative and collaborative flex ecosystem that is continually thinking of new ways to better serve the workforce.”
Christophe Garnier, CEO of Upflex, said, “This partnership is a significant step forward for both our supply partners, who will see huge demand growth, and our customers, who will be able to embrace the largest and highest quality flex network in the world. WeWork and Upflex share the same goal: create a better workplace for everyone, and we are excited to take the industry to a new level by matching the largest players in supply and demand together.”
The deal marks a step forward in WeWork's continued shift into an asset-light growth strategy by exponentially increasing the physical network for members without added incremental capital investments. Additionally, by partnering with Upflex, WeWork is enhancing its tech-first approach to providing an exceptional member experience through Upflex’s online marketplace.
