More scaleups is always a good thing.
OneEleven has announced that they are doubling their presence in Toronto by expanding their office location with an additional 50,000 square feet. The scaleup specialist is taking over another floor in their current location, slated to be ready for opening this September. This expansion will give OneEleven 100,000 square feet of space in the city.
“What is unique about OneEleven, and why we are seeing so much demand in Toronto, is that we focus entirely on the unique needs of scaleups,” says Dean Hopkins, chief growth officer at OneEleven. “Our ecosystem partners have done such a great job of supporting startups that many Toronto ventures are now transitioning to scaling. This is where we come in.”
Right now, OneEleven is supporting 35 tech companies by offering them access to a global network, a community of peers who can help with access to investors and talent, and specialized resources.
The new expansion will add 13 offices to OneEleven’s Toronto location, which can accommodate anywhere from 30 to 50 employees with open seating plans for smaller companies. A few portfolio companies have already staked out their claim to these new spaces to allow them the ability to scale further while staying within the OneEleven environment.
Companies within OneEleven’s current portfolio include Zoom.ai, Maple, Nudge.ai, Hockeystick, and Herb. OneEleven alumni represent some of the biggest Canadian tech success stories, such as Wealthsimple, Tulip Retail, and Rubikoud.
“There are few alternatives available to companies in this phase of growth beyond mentorship, word of mouth, and experience,” adds John Ruffolo, CEO of OMERS Ventures, a founding partner of OneEleven. “We believe that OneEleven is well-positioned to build the number one scaleup ecosystem in the world by expanding its existing Toronto footprint and replicating the success of its headquarters in the world’s top startup ecosystems.”
Earlier this year, OneEleven announced an expansion into Ottawa and Vancouver. The former will open in July, while the Vancouver location does not have a firm date but is expected later this year. The organization is also exploring spaces in London, Berlin and Boston as they continue a historic expansion that will see OneEleven support over 100 companies by the end of the year.
OneEleven also runs specialized programs such as their InsurTech offering.