Worq

Worq is a workspace solutions provider based in Malaysia, specializing in coworking spaces and flexible office arrangements that cater to a diverse clientele, including SMEs, freelancers, and remote teams. Founded in 2016 in Kuala Lumpur, Malaysia, Worq offers workspace solutions designed for modern professionals. The company has received a total of 4 funding deals, with the most recent being a Series C round in September 2023 that raised USD 1. 590 mn, bringing the total amount raised to USD 1.

590 mn and a current company valuation of USD 10. 615 mn. The firm is co-founded by Andrew Yeow, Mahmoud Marghany, and CEO Stephanie Ping. Worq provides a comprehensive suite of workspace solutions designed to cater to the evolving needs of modern professionals and businesses.

Their core offerings include coworking spaces, private office suites, dedicated desks, hot desks, virtual offices, and meeting rooms, all aimed at fostering collaboration and productivity among users. Worq also features event spaces accommodating various gatherings, enhancing community engagement. The facilities are designed for flexibility and accessibility, allowing individuals and teams to select plans that best suit their operational requirements. Worq primarily serves small to medium-sized enterprises (SMEs), freelancers, and remote teams across key urban centers in Malaysia, including Kuala Lumpur, with a client base that has surpassed 20,000 members.

In 2023, Worq generated revenue of USD 994,872. 10, with an EBITDA of USD 35,694. 60. Their revenue model includes subscription-based memberships and transactional services, with specific pricing such as RM 700 per person per month for private office suites and RM 50 per hour for hot desk usage.

Additionally, they generate revenue through event space bookings available at competitive rates. Worq is poised for further growth following its most recent deal on September 10, 2023, which raised USD 1. 590 mn in a Series C funding round. The funds will be utilized to increase the network location and expand the space under management.

The company is also expected to launch new products tailored to the market's evolving requirements.