ExtraSlice is raising investment as it continues to see more demand for its co-working space.
The Bellevue, Wash.-based company today announced a $1 million seed round from angel investors and Benaroya Capital, among others.
Founded in 2014 by Binu Reghunathan — a former Oracle and Amazon engineer — and Meghana Subramanian — a former Point Inside and IBM engineer — ExtraSlice offers flexible office space arrangements targeted at technology companies.
The fresh cash will help ExtraSlice grow its 5-person team and open multiple Seattle-area facilities over the next year.
Its current location in Bellevue houses more than 80 companies, ranging from early-stage startups to larger enterprises. In addition to office space, ExtraSlice provides members with access to local and global networks, training programs, and shared social areas.
“We provide our members with much more than just workspace and are very nimble,” Reghunathan told GeekWire. “Specifically, we are establishing a vibrant tech community and marketplace, along with expanded training programs and other features developed specifically to help tech companies thrive locally and globally.”
ExtraSlice has been able to capitalize on the growing tech ecosystem in the Seattle region and rising real estate costs. It describes itself as a “hybrid technology campus” and differentiates from other co-working spaces — there are now more than 40 in the area — by focusing entirely on tech companies, Reghunathan said. He also noted how ExtraSlice tries to offer more than just space.
“To support ExtraSlice’s culture, we are expanding perks such as indoor/outdoor shared social areas, company happy hours and functions, prospective joint benefits and more,” he explained. “In short, we’re striving to provide a vibrant tech-focused culture to boost collaboration and productivity for our members.”
Monthly memberships at ExtraSlice range from $45 per month for a basic plan; to $220 per month for desk space; to $499 and up for office space.
Other co-working spaces in the Bellevue area — home to tech companies like T-Mobile, Smartsheet, Expedia, Concur, and more — include CoworkBox and WeWork, which recently inked a lease for a big new Bellevue office and raised a $4.4 billion round.
