- Swivel, an agile office leasing platform, announced it has raised $8 million in Series A funding
Swivel, an agile office leasing platform, announced it has raised $8 million in Series A funding led by Jim Breyer of Breyer Capital. JLL Spark also participated in the round. This round of funding will be used to fund Swivel’s continued nationwide expansion and further invest in its agile leasing platform and tenant-broker partner program.
“The future of real estate will continue to be defined by the demand for flexibility,” said Jim Breyer, founder and CEO, Breyer Capital. “Swivel is positioned to redefine the entire office leasing experience for startups and established companies alike by eliminating upfront costs and move-out penalties. Swivel brings an innovative fintech-based approach that allows landlords to streamline leasing through terms that deliver the value of flexibility to tenants, as well as their investors.”
Swivel enables pre-qualified member companies to contract with its landlord partners for creative turnkey office space on flexible terms with little or no up-front capital expenditure and no lease lock-in. And landlords use Swivel’s agile leasing platform to backstop their leases for member companies, eliminating the risk and uncertainty usually associated with offering more flexible lease terms.
Ever since the network launch in 2019, Swivel has signed up more than 30 landlords representing over 150 properties across Austin, Dallas, and Houston. And backed by Swivel, these landlords have consummated agile leases with a wide variety of both venture-backed tech startups as well as multinational companies that require flexibility for their satellite offices.