Enclave Coworking, a venture backed coworking startup that is currently raising a financing round, will open two new spaces in Wheaton and La Grange, IL later this year. Both location expansions come amid industry leaders Industrious and IWG, which operates Regus, also making expansion efforts.
I chose Enclave over Industrious or Regus based on their success across Chicago and DC. Enclave proved that they could charge members less, but command higher revenues,” said Frank Monroy, owner of the La Grange building. “Moreover, their design is higher end and, from talking to members and visiting other locations, it was clear their tech foundation is a difference maker.”
“Enclave’s focus on hybrid workers more closely aligns with the suburban market,” said Tony Russo, who chose Enclave over Industrious in Wheaton. “Enclave’s model is superior and more streamlined, which allows them to achieve higher profit margins at a lower cost to the consumer. To me, it’s a win-win.”
Enclave, which was started in 2020, was one of the first in the country to identify suburban coworking as the best opportunity in the changing, post-covid office environment. The company now boasts 14 locations in the Chicago area and is expanding to Washington DC.
“Enclave is the only company that caters to remote and hybrid workers who live in the suburbs,” said Robert Kellman, CEO of Enclave. “This focus helped us secure financing from top tier VC firms and is fueling our expansion in Washington DC and Chicago.”
IWG and Industrious have both announced expansion into the suburbs also. Late last year, IWG announced they would be opening new suburban spaces this year. Industrious followed suit and announced their own renewed focus on the suburbs. Neither company has announced many suburban locations they now operate.
IWG and Industrious operate large suburban spaces that, on average, are 15,000 square feet or larger. Both companies cater to large corporate clients who want a managed office with emphasis on long term deals.
Enclave’s spaces average 3,000 square feet and cater to the hybrid worker who wants to stay close to home on days they don’t commute back and forth to their downtown office. The company, which sells offices for generally lower rates than IWG or Industrious, also offers a coworking flex product for those that need a cheap, no commitment, out-of-home solution to remote work.
Enclave is one of the few venture backed options in the suburban coworking space. The company was backed by Venture Capital firms Corazon Capital, New Stack Ventures, and Bling Capital with the promise to help members work close to home and improve work-life balance. Industrious and IWG are global companies with locations in multiple countries.