Real EstateProptech

Yardi unveils expanded coworking, flex space services

Expansion includes two website additions and coworking integration across its commercial listing network

Yardi, a real estate investment and property management proptech, today announced the expansion of its coworking and flex space offerings, according to a press release.

The company says this includes the launch of its new CoWorkingCafe.com, which is designed to enable real-time bookings for conference rooms and private offices, and joins Yardi’s five existing commercial listing platforms (CommercialCafe, CommercialSearch, PropertyShark, 42Floors, and Point2).

It says that these sites, which will all now show coworking availability alongside traditional listings, attract over two million monthly visitors and generate 300,000 leads per year.

Yardi also noted that the product now integrates with its flexible workspace management platform, Yardi Kube, and enables space owners to manage listings and marketing across the entire network of sites. The company says this includes accounting, customer contacts, communication, data and Wi-Fi, and creates a “single, connected, end-to-end solution.”

“With the launch of CoworkingCafe, we are excited to help consumers find and book office space, while helping operators increase revenue,” stated¬†Rob Teel, senior vice president at Yardi, in the release.

Coworking space gains steam

This launch joins a growing commercial trend of coworking- and hybrid workspace-focused product launches, partnerships and fundraises within the proptech ecosystem. Notable activity includes:

This increased activity is reflected in ResearchAndMarket’s recent report, “Global Digital Workplace Market to 2026 – Hybrid Working and Flexible Offices are Driving Growth“, which evaluated the size and structure of the global workplace market and found that the number of companies in the digital workplace sector has grown 30% from 221 to 288 in the past two years.

The report also found that the global digital workplace market in commercial office space is estimated to grow from $3.7 billion in 2021 to $9.21 billion in 2026 (20% CAGR), and attributed this growth to pandemic-related changes in modern workforce demands.

In addition to its coworking service launch, Yardi also announced acquired CoworkingMag.com to bolster its content production and generate prospects. Yardi claims the site ranks among the top results for coworking-related searches, and says its acquisition expands the reach of its coworking listings.

In other recent proptech news, proptech venture capital funding hit a record $13.1 billion in the first half of 2022, despite a 23% decrease from Q1 to Q2. Clean02 also announced a $2.12 million seed round to expand its commercial-focused carbon capture technology.

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