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Knotel reaches at least $1.3B valuation after latest fundraising

Flexible workspace startup Knotel Inc. reached unicorn status after raising $400 million in its latest fundraising, putting its valuation at at least $1.3 billion, Bloomberg News reported, citing co-founder and CEO Amol Sarva.

Private equity firm Mercuria Investment Co. Ltd., Wafra International Investment Co., Mori Trust Co. Ltd. and Itochu Corp. participated in the funding round that closed in the week of Aug. 19, the newswire said. The fundraising traded 15% to 30% of the company.

Knotel plans to use the funds to expand its footprint in New York, San Francisco and Los Angeles, Sarva told Bloomberg.