Rework raised $3 million Pre-Series A funding

Rework raised US$3 million Pre-Series A funding led by ATM Capital and Convergence Ventures to compete WeWork in Southeast Asia. The Indonesia-based co-working space provider startup on Friday said it is funding to expand its network, particularly in Bali and Surabaya. Another participating investor is China's co-working unicorn UrWork.

Tinuku Rework raised $3 million Pre-Series A funding

Funding on Rework shortly after WeWork headquartered in New York acquired Spacemob in Singapore. Founder of ATM Capital, Qu Tian, is very optimistic about the growth opportunities of co-working space in Southeast Asia, especially Indonesia.

"Rework has great potential and Rework founders have good planning and operating details for this," Tian said.

This pre-Serie A funding became force for Rework to expand more aggressively. In the past year they have established two co-working spaces in Jakarta and have targeted 35 places in the future, five of which are under construction and scheduled to operate by early 2018.

Increasing the availability of branch location options into a strategy to excel in business competition. Rework has been integrating co-working space access and facilities into mobile applications since April 2017 that allows users to access various event information, payment options, and more.

Rework funding further strengthens the competition of co-working space business in Indonesia. Similar startups that have run in countries include EV Hive, Freeware Spaces, Cre8, and Colleagues.