Convene Funding, Investors & Competitors
Convene has raised $267M across 7 funding rounds, most recently a undisclosed-stage round in March 2026.
Last Convene funding round
Undisclosed stage
Amount undisclosed · Mar 2026
Cumulative funding Convene raised
$267M
across 7 funding rounds
Key investors in Convene
Conversion Ventures
ArrowMark Partners
Boathouse Capital
Durst Ventures
Elysium Capital Management
Revolution
Ares Management
Brookfield Asset Management
About Convene
Convene is a New York City-based company designing premium workspaces, meeting venues, and event spaces. It manages 15 locations across Manhattan and Boston, equipped with proprietary technology for seamless event production. Convene serves corporate clients like Fortune 500 firms with hospitality-integrated environments totaling over 600,000 square feet.
Founded
2009
HQ
New York City, NYWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Convene Funding History
Convene has raised a total of $267M across 7 funding rounds.
Convene's first fundraising round was a $10M Series A in July 2013. The most recent completed round was a undisclosed-stage round in March 2026.
Convene funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Mar 2026 | Undisclosed stage | Ares Management (lead) | - | - |
| Jul 2022 | Seed | - | $1M | - |
| Jul 2018 | Series D | ArrowMark Partners (lead); QuadReal Property Group; RXR Realty; Revolution Growth; Declaration Capital; Elysium Capital Management; Revolution; Brookfield Asset Management; Conversion Ventures; Durst Ventures | $152M | Convene is a New York-based hospitality company founded in 2009, specializing in tech-enabled meeting, event, and flexible workspaces through partnerships with real estate landlords. It designs premium venues for corporate meetings, events, and coworking, blending hospitality with commercial real estate to enhance building value and tenant experiences. The company secured a $152 million Series D funding round on or around October 7, 2018, led by ArrowMark Partners, with participation from Brookfield Asset Management, Conversion Ventures, Declaration Capital, Durst Ventures, Elysium Capital Management, QuadReal Property Group, Revolution, Revolution Growth, and RXR Realty, bringing total equity funding to approximately $260 million at that time. This round more than doubled a previously announced Series C, enabling expansion of Convene's network of locations, including plans for international growth like London, and new initiatives such as co-branded workplace solutions. Convene differentiates from competitors like WeWork by leveraging landlords' balance sheets for growth, maintaining variable performance structures, and achieving cash flow positivity from day one with a focus on profitability. The landlord partnership model aligns interests through economic cycles, positioning Convene as the second most capitalized platform in the category by dollars raised at the time. Convene continued operations post-round, facing later recapitalizations such as in 2022 with Ares Management and HBC. |
| May 2017 | Series C | ArrowMark Partners (lead); Conversion Ventures (lead); Elysium Capital Management; Durst Ventures | $68M | Convene, a New York-based 'workplace-as-a-service' platform, operates a network of on-demand meeting, conference, and event venues, providing outsourced real estate solutions including collaboration spaces, staffing, audiovisual, catering, and conference planning support. By May 2017, the company had grown from three locations in New York City to twelve conference centers across New York, Philadelphia, Boston, and DC Metro, with over 260 employees. It had opened full-service amenity floors in iconic buildings like One World Trade Center and Park Avenue Tower since its Series B in 2016, more than doubling its commercial footprint. On May 1, 2017, Convene announced a $68 million Series C funding round, led by existing investors ArrowMark Partners, Brookfield Property Partners, and Conversion Venture Capital (also referred to as Conversion Ventures), with participation from new investors including The Durst Organization (Durst Ventures) and Elysium Management (Elysium Capital Management). This brought total funding to $119.2 million. Baird served as the exclusive financial advisor. Prior investors like Boathouse Capital, which had invested about $11 million in debt and equity from 2013-2015, exited via this recapitalization. The proceeds were earmarked to accelerate Convene's three business lines: Convene Retail (branded on-demand venues expanding nationally and into flexible workspaces for 5-75 person teams), alongside other segments. Brookfield Property Partners, with $65 billion in assets and 142 office properties worldwide, co-led the round. Convene aimed to double its retail footprint in 2017-2018. |
| May 2016 | Series B | Brookfield Property Partners (lead); Sunrise Capital Partners; Boathouse Capital; ArrowMark Partners; Conversion Ventures | $20M | Convene is a workplace hospitality platform providing on-demand meeting, conference, and event spaces across premier office buildings. Founded in 2009, the company operates flexible service-oriented facilities that complement traditional corporate office space, offering ancillary services including catering, concierge, and fitness classes. On May 19, 2016, Convene closed a $20 million Series B extension led by Brookfield Property Partners, with participation from new investor Arrowpoint Partners and existing shareholders Conversion Capital, Boathouse Capital, and Sunrise Capital Partners. This extension brought the total Series B round to over $35 million, with cumulative venture funding reaching $51.2 million. The capital was designated to expand Convene's footprint from 10 locations to over 20 facilities, including strategic acquisitions in major office markets. CEO Ryan Simonetti noted that the company had tripled revenues in the preceding years while building infrastructure for substantial scaling. Brookfield's investment represented a strategic partnership to deploy Convene's workplace-as-a-service platform across Brookfield's portfolio of 150+ premier office properties totaling 100 million square feet globally. Convene had secured prime locations in Manhattan including TIAA-CREF's 780 Third Avenue and the Durst Organization's 114 West 47th Street, positioning itself to serve Fortune 1000 companies across major capital markets. The announcement indicated that a significantly larger Series C round was planned for later in 2016 to fund international expansion and new service verticals. |
| Jun 2015 | Series B | Conversion Ventures (lead); Boathouse Capital | $16M | Convene is a network of urban meeting centers and integrated workplace amenity services founded in 2009. In June 2015, the company raised $15.5 million in Series B financing led by Conversion Venture Capital, with participation from existing investor Boathouse Capital and lender OFS Capital Corporation. This was the largest capital raise for the company at that time. The proceeds were allocated toward growth initiatives including expansion in the Mid-Atlantic corridor, a 40 percent capacity increase in New York City, and liquidity for early investor Sunrise Capital Partners. By the time of its Series D round in 2018, Convene had grown to a valuation exceeding $500 million and had raised $260 million in total equity funding. |
| Jul 2013 | Series A | Boathouse Capital (lead); Tamarix Capital (lead) | $10M | Convene is an urban day conference center operator headquartered in New York City that provides meeting and collaboration space rental along with staffing, audiovisual, catering, and conference planning support. The company operated three conference centers in New York City at the time of this investment and had established a loyal customer base of global clients. Convene secured $10 million in growth capital financing with Boathouse Capital and Tamarix Capital each contributing $5 million to the round. The capital was intended to support multi-city expansion beyond New York City and establish Convene as a nationally recognized brand in the conference center market. The company had executed proof of concept and identified a scalable business model to address the needs of businesses seeking flexible, outsourced solutions for meetings and conferences. |
Who has invested in Convene?
15 investors have backed Convene across its funding rounds, including Conversion Ventures, ArrowMark Partners, Boathouse Capital, Durst Ventures, Elysium Capital Management and Revolution.
Lead investors include Ares Management, ArrowMark Partners, Conversion Ventures, Brookfield Property Partners, Boathouse Capital and 1 other investor.
Convene Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| New York City, NY | 4 | Lead | Jun 2015 | |
| United States | 3 | Lead | Jul 2013 | |
| Denver, CO | 3 | Lead | May 2016 | |
| Miami, FL | 2 | Participant | May 2017 | |
| New York City, NY | 2 | Participant | May 2017 | |
 Vancouver | 1 | Participant | Jul 2018 | |
| New York City, NY | 1 | Participant | Jul 2018 | |
| United States | 1 | Participant | Jul 2018 | |
| New York City, NY | 1 | Participant | Jul 2018 | |
| San Diego, CA | 1 | Participant | May 2016 | |
| Toronto | 1 | Lead | May 2016 | |
| New York City, NY | 1 | Lead | Jul 2013 | |
| Washington, DC | 1 | Participant | Jul 2018 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Convene
Convene has acquired 3 companies to date.
Last acquisition by Convene was on February 1st 2023. Convene acquired etc.venues for $246M.
Latest Acquisitions by Convene
| Description | etc.venues is a venue operator managing conference, training, meeting, exhibition, and event spaces in London and Birmingham. Its facilities host product launches, away days, breakfast meetings, networking drinks, evening dinners, exhibitions, teambuilding activities, workshops, conferences, summits, AGMs, graduate training, exams, assessment centers, and religious events. The company provides comprehensive room options via etcvenues.com for diverse corporate and professional gatherings. | Beco is a cloud platform for workplace management that connects employees to office spaces via mobile apps. San Francisco-headquartered, it provides real-time occupancy data, desk booking, and meeting room reservations integrated with tools like Microsoft Teams and Slack. Beco analyzes utilization patterns for facilities in corporate buildings across North America. | The Hub is a provider of premium meeting and event spaces across Philadelphia at locations including Commerce Square near Logan Square, United Plaza in Center City, and Cira Centre at 30th Street Station. The facilities offer high-tech AV systems, catering, and capacity for up to 300 guests per venue. The Hub serves corporate events, conferences, and networking for businesses in the Greater Philadelphia area. |
| HQ Country |  | | |
| HQ City | London | Boston, MA | Philadelphia, PA |
| Deal Date | 1 Feb 2023 | 8 May 2018 | 3 Feb 2016 |
| Valuation | $246M | undisclosed | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all Convene acquisitions and their M&A valuation multiples. Start Free Trial | |||
Investments by Convene
Convene has invested in 2 companies to date.
Latest investment by Convene was on March 15th 2019. Convene invested in Bizly in their $3M Seed round.
Latest Investments by Convene
| Description | Bizly is an AI-driven platform for booking event venues that supplies companies with instant access to curated options, pre-built packages, and streamlined processes eliminating RFPs. New York-based, it supports enterprises via centralized controls, compliance tools, and cost-reduction reporting while simplifying meetings for all users. | Eden Health is a New York-based employer-focused primary care and insurance navigation service launched in 2019. It equips employees with personal health advocates to handle claims, find in-network providers, and access virtual therapy via partnerships with Aetna and UnitedHealthcare. The platform reduces healthcare costs by 25 percent for mid-sized companies through AI-driven plan optimization and on-site clinics in Northeast urban centers. |
| HQ Country | | |
| HQ City | San Francisco, CA | New York City, NY |
| Deal Date | 15 Mar 2019 | 27 Feb 2019 |
| Round | Seed | Series A |
| Raised | $3M | $10M |
| Investors | FJ Labs; SeedInvest; Sunmeet Jolly; Brand New Matter; PSAV; LeFrak; Rob Bernshteyn | Brand Foundry Ventures; Max Ventures; PJC; Greycroft; Aspect Ventures; 645 Ventures; Company Ventures |
| Valuation | undisclosed | $37M |
| EV/Revenue | ||
| EV/EBITDA | ||
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Convene Competitors
Convene competitors include listed companies like FirstService and Legence, and private ones like Oru Space, Sugar, Stories and VEL.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| London | Private | - | - | $49M | - | |
| Los Angeles, CA | Private | - | - | $18M | - | |
 Amsterdam | Private | - | - | $13M | - | |
| Fernandina Beach, FL | Private | - | - | $11M | - | |
| Canada | Publicly listed | $5.5B | $525M | $5.8B | 1.4x | |
| United States | Publicly listed | $2.6B | $156M | $4.2B | 1.3x |
Convene Public Comps
Convene is still privately-owned, but its public comps include FirstService, Legence, WillScot, Carmila, IWG, Grupo GPS, Tasmea, Shoucheng Holdings, Wework India Management and Dexterra Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $5.5B | $525M | 1.4x | 1.4x | 14.7x | 13.3x | |||
| $2.6B | $156M | 2.2x | 1.3x | 35.1x | 11.0x | |||
| $2.3B | $606M | 3.1x | 3.1x | 11.7x | 7.6x | |||
| $626M | $327M | 8.9x | 10.8x | 17.0x | 13.7x | |||
| $3.8B | $487M | 2.6x | 2.5x | 20.1x | 16.9x | |||
| $3.4B | $436M | 0.7x | 0.7x | 5.3x | 6.4x | |||
| $920M | $99M | 2.1x | 1.7x | 19.4x | 16.5x | |||
| $183M | $79M | 5.8x | 5.8x | 13.4x | 9.1x | |||
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Common questions about Convene
| When was Convene founded? | Convene was founded in 2009. |
| Where is Convene headquartered? | Convene is headquartered in New York City, NY, United States. |
| Is Convene publicly listed? | No, Convene is a private, VC-backed company. |
| How much funding has Convene raised? | Convene has raised $267M across 7 funding rounds. |
| What was Convene's last funding round? | Convene's last funding round was a undisclosed-stage round in March 2026, led by Ares Management. |
| Who are Convene's investors? | Convene's investors include Conversion Ventures, Boathouse Capital, ArrowMark Partners, Elysium Capital Management, Durst Ventures, QuadReal Property Group, RXR Realty, Revolution Growth, Declaration Capital, Sunrise Capital Partners and 5 others. |
| Which companies are comparable to Convene? | Companies comparable to Convene include Oru Space, Sugar, Stories, VEL, FirstService and Legence. |
| How many companies has Convene acquired? | Convene has acquired 3 companies, including etc.venues, Beco and The Hub. |
| What was the largest acquisition by Convene? | The $246M acquisition of etc.venues in February 2023 is the largest acquisition Convene has made to date. |
| How many companies has Convene invested in? | Convene has invested in 2 companies, including Bizly and Eden Health. |
| What was Convene's last investment? | In March 2019, Convene invested in Bizly's $3M seed round alongside FJ Labs, SeedInvest, Sunmeet Jolly and 4 other investors. |
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