Valve, the global industry system for flexible workspaces, has announced a £3.9m ($4.5m) seed funding round led by Project A with participation from Discovery Ventures.

The flexible workspace platform provides turnkey sales, marketing and distribution solutions for commercial real estate professionals, online booking platforms and flexible workspace operators to transact across a global network of workspaces seamlessly.

Founded in 2019 with offices in London and New York, Valve operates across 10,000+ buildings in more than 250 cities.

The funding will expand Valve’s reach across North America and EMEA.

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Covid-19 pandemic accelerated the transition towards turnkey, flexible workspaces.

Nick Roveta, CEO at Valve, said: “Valve makes it easy for companies building flexible workspace businesses – whether you are a landlord, operator, brokerage, application or tech entrepreneur.

“Valve’s unified system meets a logical need for all industry players in the  flexible workspace ecosystem to have one place to streamline how they partner and grow revenues together.”

While the number of players in the flexible workspace sector is on the rise, both sides face challenges: Operators struggle to lease space efficiently, and brokerages lack streamlined digital access to inventory, data and content.

Valve aims to fill the gap in this highly fragmented market to enable both parties to transact more efficiently.

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Through Valve’s technology, landlords and operators on the supply side can power up their sales teams with best in class sales tooling as well as distribute content and receive bookings from traditional brokerages, listing sites, and on-demand apps via a centralised inventory and distribution management platform.

Operators can connect their data into Valve’s global industry system to reach over 2,000 advisors, partners and online booking platforms transacting in the flexible workspace.

Anton Waitz, general partner at Project A, said: “Valve is building the infrastructure layer of the fast-growing flex workspace market, and it’s a perfect time to capitalise.

“The team combines the right mindset, speed and passion for executing Valve’s mission and building a company that will help the entire industry thrive.”