Breather has raised $40 million. The Series C round, which brings the Canadian company’s total funding to $73 million, was led by Menlo Ventures, with participation from existing investors Valar Ventures, RRE Ventures, Slow Ventures and Real Ventures.
Breather operates a network of on-demand meeting rooms and workspaces. The Montreal company says the investment will be used to expand its network of spaces.
“Breather has tapped into a real need in the workplace. There hasn’t been a company of its kind offering spaces on-demand,” said Venky Ganesan, Managing Director of Menlo Ventures. “Breather has a tremendous vision to connect the world’s spaces and make them accessible to all.”
Ganesan has joined Breather’s Board of Directors.
Founded in 2012, Breather’s network exceeds 300 spaces across 10 global markets, including Toronto, Montreal, New York, San Francisco, and London. In 2016, the company expanded to new markets including Chicago and Los Angeles. Breather says it has more than tripled its footprint in 2016.
“Over the past year, we’ve seen hundreds of new businesses from a wide range of industries sign up every month,” said Julien Smith, cofounder of Breather. “The demand for Breather services is growing, and we’re excited to partner with Menlo Ventures because of their experience and alignment with our vision.”
Breather has no membership fees or long-term contracts. Instead, the company offers workspaces on a pay-per-use basis through the company’s proprietary app.