Southeast Asia’s co-working craze isn’t showing any signs of slowing down yet – even when it comes to venture funding.
GoWork, an Indonesian provider of shared workspaces, has secured US$9.97 million in a series A fundraise co-led by Kuala Lumpur-based VC firm Gobi Partners and Indonesian retail and hospitality property developer The Paradise Group.
500 Startups’ Durians II fund is an existing investor.
GoWork runs 16 large-scale venues in Jakarta, Surabaya, and Bali, as well as a number of smaller spaces.
Over 8,000 individuals have signed up as GoWork members, while close to 600 companies use its workspaces.
The startup claims that it has a 90 percent renewal rate among its members, and has consistently achieved occupancy rates of over 90 percent across all its locations within three months of opening a new venue.