Real Estate magnate HelloOffice expands to Los Angeles

By: Damian Wood
Damian Wood
As an experienced trader, I work for myself managing my own small portfolio and also contributing on several investment news sites.… read more.
on Oct 30, 2019
  • Real estate broker HelloOffice has secured $6.5 million from new venture capitalists
  • The company is using part of the funds to set up its first regional office in Los Angeles
  • HelloOffice makes it easier for businesses to find ideal office space in San Fransico and now Los Angeles

San Francisco-based HelloOffice has just secured $6.5 million in a new round of funding and is absconding to Los Angeles to set up its first regional office. The fairly new real estate brokerage company disclosed to its potential customers that they will set up a new location in Southern California at 10250 Constellation Blvd. in Century City.

The new LA office will be managed by the Former L.A. Realty Partners Senior Executive Director Owen Fileti while the former CBRE Pacific Southwest Region Research Director Petra Durnin comes in as Head of Market Analytics. Mac Burridge from L.A. Realty and Lexi Aiassa from Savills will also be joining HelloOffice’s LA team.

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“HelloOffice is a technology-first commercial real estate company that sets the bar for the industry. We have a game-changing platform that supports strategic and agile customer-centric solutions for a unique and highly personalized experience,” Fileti said.

The firm is keen on incorporating innovation and creativity into its business model.

“HelloOffice embraces the creative and innovative direction that commercial real estate is heading in, and delivers a sophisticated and customized experience to the client,” said the firm’s incoming Head of Market Analytics.

The rental brokerage firm helps businesses to find ideal office space in San Fransico, and now LA.

“We raised money in order to invest in our team and platform as well as to scale to new markets beyond San Francisco,” says Bedecarre. “However, we have been growing so quickly while remaining profitable, we haven’t touched any of the money we raised.”

HelloOffice is confident that the Los Angeles market is bound to be the gamechanger at a time when finding an ideal office space is becoming a painful experience for many, especially in a large city.

“We believe LA is at an inflection point, with the biggest technology and entertainment companies in the world choosing to make LA a key hub or headquarters,” Bedecarre said. “At the same time, there is a startup renaissance occurring here, building the foundation for decades of growth and opportunity.”

With the recent slew of venture funds, the company’s growth plan is set to take off with minimal financial setbacks. Some top investors in HelloOffice include Initialized Capital, Founders Fund, Founder Collective, Peak State Ventures, SV Angel, Liquid 2 Ventures, SaaStr and The House Fund.

Some of HelloOffice’s clients include Palantir, Knotel, Patreon, Y Combinator, and Brex.

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