“A startup firm that is competing with WeWork Cos. in the flexible-office-space business and planning a service that will use blockchain to track space listings just closed a $70 million funding round. Knotel , which was founded in 2016, said the funding round was led by well-known names in the property business, including Newmark Group Inc., a real-estate services firm that went public late last year, and the Moinian Group, a big owner of commercial real estate in the New York region. Other investors included Wolfson Group, Sapir Organization and Wainbridge Capital. Together with a $25 million funding round last year, the latest investments brings Knotel’s capital raised to close to $100 million. The deals value the firm at roughly $500 million, according to PitchBook, a research firm owned by Morningstar. Knotel has deals with landlords in 45 office buildings in New York, San Francisco and London that enable it to lease space in those properties on a short-term basis to tenants seeking flexibility.”
