Convene is a coworking and event space with offices in New York and 5 other cities.
- With WeWork’s cancelled IPO, some analysts are questioning the coworking business model, but Convene has raised $260 million in equity funding and continues to grow.
- The 530 Fifth Ave Convene location gives a look into the company’s approach to coworking.
Convene’s 530 Fifth Avenue location is one of 14 in New York, a city with some of the stiffest coworking competition around. WeWork alone has 66 New York locations, and workers looking for other variations might choose The Wing women’s coworking space, or dozens of others.
Analysts have been calling coworking a bubble for over a year, and WeWork’s cancelled IPO and reports that it doesn’t even have cash on hand to pay out severance payments might mean they’re right, but Convene is still going strong.
Convene’s head of product, Nick LiVigne, feels confident in the company’s future. So far, it has raised $260 million in funding, including a $152 million Series D round of funding this summer. He emphasized in an interview that Convene has 2 products: workspaces and events, and it will continue to grow focusing on those areas.