WeWork has acquired support services startup Managed by Q as part of its quest to take over the office. The company declined to disclose the financial terms of the deal.
Managed by Q, based in New York, connects offices with IT managers, receptionists, inventory management, repair services, and cleaning staff. The company was last valued at $249 million, according to Pitchbook data.
Inside of WeWork, Managed by Q will help the office lessor and management firm to coordinate services for its bevy of clients. These days, WeWork does more than just provide hot desks to fledgling startups. It’s grown into something much bigger, providing office space for giant companies, like Microsoft and Sprint, and designing and renovating spaces for a diverse spectrum of clients. WeWork has already built a robust real estate department for leasing new properties as well as a technology team that assists clients with the day-to-day operation of their spaces. While WeWork already handles office management, cleaning, and maintenance, Managed by Q will give the company a ready workforce and more efficiency.
Managed by Q raised $25 million in funding in January.
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