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June 18, 2019 11:14 AM |updated 39 minutes ago

WeWork hits 1 million square feet in Chicago

The co-working provider has a new deal to open a location on the top floors of 625 W. Adams in the West Loop.

Co-working giant WeWork is opening another Chicago location in a new West Loop office building, bringing its total downtown footprint to a size few have achieved.

The New York-based firm leased three of the top floors of a 20-story office building at 625 W. Adams St., according to sources familiar with the deal.

It's the 12th Chicago lease WeWork has inked as it leads a rapid spread of shared-office providers in the city, and it brings the company to more than 1 million square feet of offices downtown.

That benchmark highlights its breakneck expansion pace amid rampant demand for flexible office space that tenants can lease on a month-to-month basis. Small businesses and large corporations alike have become frequent users of co-working, feeding a leasing land-grab among WeWork and rivals like Spaces, Industrious, Convene and others.


“In addition to a great location and proximity to transit options, WeWork 625 W Adams will provide our members with beautiful, flexible workspace and access to a wealth of retail, dining and residential amenities being developed in the area,” WeWork Midwest General Manager Megan Dodds said in the statement. “By continuing to expand in Chicago, we look forward to providing more companies of all sizes with the space and global community they need to succeed.”

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Crisp launches North American HQ in Chicago, plans to make 50 hires in a year


U.K. company Crisp closed a $25 million funding round last October. How’s it celebrating? By coming to Chicago.

On Tuesday, Crisp announced that it’s opening its new North American headquarters in Chicago. The Chicago office will be the home base for Crisp’s North American operations and will help the company expand its business across the world.

Crisp labels itself as a “social media safety” firm. The company has partnered with several Fortune 500 and enterprise-scale companies in order to monitor their social media channels and protect their brand image.

The growing need for this social media protection has led the 14 year-old company to experience 87 percent year-over-year growth in 2018. And Crisp aims to keep this momentum.

Crisp is hoping to add 25 to 30 employees to its new Chicago office in the next three to six months, and approximately 50 in the next 12 months. Worldwide, the company plans to double its employee headcount over the next year.

Chicago proves to be the perfect city for Crisp’s new headquarters, according to the company, thanks to its rapidly growing tech scene and its access to top brands and talent.

Adam Hildreth, the CEO and founder of Crisp, has a special affinity for the city.

“Chicago’s central location, proximity to the Fortune 500 and top tech talent pool made it the obvious choice for Crisp’s North American headquarters,” Hildreth said in a statement. “We want to be the very best partner to our customers, which is why we are eager to capitalize on the incredible resources Chicago provides growing tech companies and the businesses they work with.”

Boro, which helps young borrowers secure loans, raises $6M Series A


To take out loans, you need good credit. But in order to get good credit, you need to take out loans.

This paradox makes it hard for first-time borrowers to secure their first loan or credit card without getting taken advantage of by lenders.

Boro is trying to make getting that first loan easier, and it just closed a $6 million Series A to do so.

Boro is an online lending platform that specializes in providing loans to college students and other young applicants who have trouble getting a solid FICO credit score. Instead, the company assesses creditworthiness using a machine learning algorithm that looks at an individual’s financial status and future earning potential.

The Series A brings Boro’s total funding to $8.6 million. The company is based in Chicago, but it's looking to use these funds to expand across the country. The company is currently hiring for a range of roles including in marketing and engineering.

Healthtech company Collective Health closes massive $205M funding round


This new round of funding will help the company grow even more. The company is headquartered in San Francisco, with offices in Chicago and Lehi, Utah. A spokesperson for Collective Health told Built In that it’ll expand its workforce in all three of its offices, including Chicago.

The company is currently hiring roles for its sales, engineering and customer experience teams.
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