Indonesia-based shared office space operator GoWork has received S$13.8m ($9.9m) in a series A round co-led by industrial conglomerate Paradise Group of Industries, E27 has reported.
Venture capital firm Gobi Partners co-led the round, which also featured undisclosed additional investors.
Founded in 2017, GoWork operates 16 co-working hubs spread throughout capital city Jakarta and the Indonesian provinces of Surabaya and Bali, in addition to 30 sites run in partnership with restaurant and bar operator Ismaya Group. It claims 8,000 members and a 90% renewal rate.
The company merged with rival Rework in February this year to form a company initially known as Go-Rework but has since rebranded to its existing name. It plans to use the series A capital to expand the amount of office space under its management to more than 100,000 square metres by early 2020.
Rework raised $3m in a September 2017 pre-series A round co-led by ATM Capital and Convergence Ventures that included China-based co-working space operator URWork, Social Capital, Fortune Union Investments and Ace Capital. GoWork’s pre-merger backers included 500 Durians.