Table Space, a flexible workspace operator, has raised about $300 million from Hill House Capital, a global private equity fund, to expand its operations. The investment is expected to be funded in two tranches.
“Table Space has signed some large clients recently and has been looking for funding to expand its business. The fresh funding will help them expand at a faster pace,” said multiple people aware of this transaction.
Table Space, one of the fastest-growing managed workspace operators for enterprises in India, plans to expand its presence from the current five million sq ft to eight million sq ft by the end of 2023.
“Corporates are increasingly seeing offices as both a capital-driven expenditure and a value-driven operating expense. The events of the past two years have accelerated the journey for enterprises, and many flex operators have expanded aggressively to support them in this transition,” said one of the people quoted above.
In the most recent few months, Table Space has leased more than 1.2 million sq ft of Grade-A commercial space in projects, including 1 Shobha in Bengaluru, Gigaplex in Navi Mumbai, DLF Cyber City Building 10 in Gurugram, BPTP Capital City in Noida, and Panchshil Business Park in Pune.
Currently, Table Space handles over 5 million sq ft, which has room for 45,000–50,000 people.
The company serves leading organizations like AMD, Fujitsu, and Microsoft, among others, and operates in cities like Delhi-NCR, Bengaluru, Hyderabad, Mumbai, Pune, and Chennai.