- Companies
- Kr Space
Kr Space Valuation, Funding & Investors
Kr Space is valued at $1.3B as of March 2019.
Last Kr Space valuation
$1.3B
Series C · Mar 2019
Last Kr Space funding round
$145M
Series C · Mar 2019
Cumulative funding Kr Space raised
$483M
across 5 funding rounds
Key investors in Kr Space
IDG Capital
Prometheus Capital
Gobi Partners
UnityVC
Gopher Asset Management
Tsing Ventures
About Kr Space
Kr Space is a Beijing-based coworking operator managing spaces in 10 Chinese cities with over 13,000 seats, achieving 82% occupancy. Backed by IDG Capital and integrated with 36Kr, it provides flexible office solutions for startups and enterprises.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$1.3B (Mar 2019)
Sectors
Kr Space Valuation
Kr Space is currently valued at $1.3B, based on its Series C in March 2019.
The $145M round was led by Gopher Asset Management and IDG Capital, with participation from Tsing Ventures and Yixing Capital.
Kr Space's valuation has moved from $1.3B at its undisclosed-stage round in May 2018 to $1.3B in March 2019, across 2 priced rounds.
Kr Space valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2019 | Series C | $1.3B |
| May 2018 | Undisclosed stage | $1.3B |
Kr Space Funding History
Kr Space has raised a total of $483M across 5 funding rounds.
Kr Space's first fundraising round was a $29M Series B in November 2016. The most recent completed round was a $145M Series C in March 2019.
Kr Space funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2019 | Series C | Gopher Asset Management (lead); IDG Capital (lead); Tsing Ventures; Yixing Capital | $145M | $1.3B | The company achieved unicorn status prior to the queried 2019 funding round involving Gopher Asset Management, IDG Capital, Tsing Ventures, and Yixing Capital, with Gopher and IDG as leads. |
| May 2018 | Undisclosed stage | - | $200M | $1.3B | Kr Space, a co-working space operator spun out from 36Kr in early 2016, raised RMB 600 million ($92.3 million or approximately $137 million cumulative funding by that point) in a funding round around January 2018 from investors including IDG Capital, Gobi Partners, Unity Ventures, China Minsheng Investment Management, Prometheus Capital, and Colony New Yangtze Fund. The funds were aimed at expanding co-working spaces in major Chinese cities like Beijing, Chengdu, Hangzhou, Nanjing, Shanghai, Suzhou, Tianjin, and Wuhan, where it already operated 30 locations, with plans to reach 300,000 sqm in 2018. This round followed prior investments, including $30 million in 2016, an undisclosed amount from China Minsheng in July 2017, and $15 million from IDG Capital in September 2017. The company positioned itself amid fierce competition from players like URWork and WeWork's China expansion. A planned subsequent $200 million unicorn round at over $1 billion valuation fell through due to China Minsheng's financial crisis. Kr Space later faced financial troubles, defaulting on leases in Hong Kong and Shanghai, leading to a RMB 1 billion ($145 million) round in 2019 led by IDG Capital, Gopher Asset Management, and Hubei Yixing Capital to pivot toward comprehensive office services and asset management. It operated around 40 co-working spaces at that time, amid a market where China's first-tier city co-working spaces grew 60% from late 2017 to October 2018 but had 40% vacancy rates. |
| Jan 2018 | Undisclosed stage | China Minsheng Investment Group; UnityVC; IDG Capital; Gobi Partners; Prometheus Capital | $93M | - | - |
| Sep 2017 | Undisclosed stage | IDG Capital (lead) | $15M | - | Kr Space is a Beijing-based coworking startup founded in 2016 as a spin-off from Alibaba-backed technology platform 36Kr. The company positions itself as distinct from competitors like WeWork and Naked Hub by focusing primarily on Chinese startups rather than corporate occupiers. In July 2017, Kr Space announced a strategic investment of over 100 million yuan from IDG Capital, an existing backer of the company. Prior to this round, Kr Space had secured multiple funding rounds including a 200 million yuan A+ round from Prometheus Capital and IDG Capital in November 2016, and received backing from China Minsheng Investment Group. By May 2019, the company had raised $145 million in aggregate in a new round also led by IDG Capital alongside new investors Gopher Asset Management and Yixing Capital, with plans to expand to 40 coworking locations across China and Asia-Pacific while positioning itself as a full life-cycle enterprise office service provider. |
| Nov 2016 | Series B | IDG Capital (lead); Prometheus Capital | $29M | - | Kr Space is a Beijing-based co-working space provider and spinoff of Alibaba-backed technology platform 36Kr, founded in January 2016. The company operates shared office centers targeted primarily at innovative Chinese startups and competes with international players like WeWork and domestic rivals such as URWork. Kr Space offers flexible office spaces and, in later iterations, comprehensive office services including location selection, spatial design, and construction management for enterprise clients. The earliest round identified is a combined RMB 200 million ($30M) investment from IDG Capital and Prometheus Capital in November 2016, led by IDG Capital. Subsequent rounds include a RMB 100 million ($15M) round in January 2018 from IDG Capital and a RMB 1 billion ($145M) round in May 2019 from IDG Capital, Gopher Asset Management, and Hubei Yixing Capital. By May 2019, Kr Space operated 40 locations across mainland China. |
Who has invested in Kr Space?
8 investors have backed Kr Space across its funding rounds, including IDG Capital, Prometheus Capital, Gobi Partners, UnityVC, Gopher Asset Management and Tsing Ventures.
Lead investors include Gopher Asset Management and IDG Capital.
Kr Space Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Nov 2016 | ||
| 2 | Participant | Nov 2016 | ||
| 1 | Participant | Jan 2018 | ||
| 1 | Participant | Jan 2018 | ||
| 1 | Participant | Mar 2019 | ||
| 1 | Participant | Jan 2018 | ||
This data is available for Pro users. Sign up to see all 8 Kr Space investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialKr Space Competitors
Kr Space competitors include listed companies like Wework India Management, IWG, Smartworks Coworking and Framery Group, and private ones like WeWork China and 5Lmeet.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $94M | - | $1B | 10.6x | ||
| Publicly listed | $254M | $165M | $989M | 5.4x | ||
| Publicly listed | $3.8B | $487M | $2.2B | 2.5x | ||
| Publicly listed | $187M | $121M | $620M | 5.2x | ||
| Publicly listed | $256M | $54M | $603M | 2.7x | ||
| Private | - | - | $435M | - |
Kr Space Public Comps
Kr Space is still privately-owned, but its public comps include Wework India Management, Smartworks Coworking, Framery Group, Servcorp, IWG, Awfis Space Solutions, WOTSO Flexspace, Dev Accelerator, One Experience and WillScot.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $254M | $165M | 6.0x | 5.4x | 9.3x | 8.3x | |||
| $187M | $121M | 5.9x | 5.2x | 9.2x | 30.0x | |||
| $256M | $54M | 2.7x | 2.7x | 12.7x | 10.2x | |||
| $249M | $67M | 2.2x | 2.1x | 8.2x | 3.6x | |||
| $3.8B | $487M | 2.6x | 2.5x | 20.1x | 16.9x | |||
| $156M | $62M | 2.2x | 2.0x | 5.6x | 5.4x | |||
| $35M | $13M | 4.6x | - | 12.0x | - | |||
| $24M | $11M | 2.8x | - | 5.8x | - | |||
This data is available for Pro users. Sign up to see all Kr Space competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Kr Space
| When was Kr Space founded? | Kr Space was founded in 2016. |
| Where is Kr Space headquartered? | Kr Space is headquartered in Beijing, China. |
| Is Kr Space publicly listed? | No, Kr Space is a private, VC-backed company. |
| What is Kr Space's valuation? | Kr Space was last valued at $1.3B in its Series C in March 2019. |
| How much funding has Kr Space raised? | Kr Space has raised $483M across 5 funding rounds. |
| What was Kr Space's last funding round? | Kr Space's last funding round was a $145M Series C in March 2019, led by Gopher Asset Management and IDG Capital. |
| Who are Kr Space's investors? | Kr Space's investors include IDG Capital, Prometheus Capital, China Minsheng Investment Group, UnityVC, Tsing Ventures, Gobi Partners, Yixing Capital and Gopher Asset Management. |
| Which companies are comparable to Kr Space? | Companies comparable to Kr Space include WeWork China, Wework India Management, IWG, Smartworks Coworking, Framery Group and 5Lmeet. |
See companies similar to Kr Space
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




