By Madelaine B. Miraflor
KMC Solutions, the Philippines’ leading coworking and flexible workspace provider, is now all set for nationwide expansion after receiving fresh funding.
A statement showed that ASEAN Industrial Growth Fund (AIGF) has invested in KMC Solutions and has injected new capital to drive the company’s aggressive expansion targets for this year.
Today, KMC has over 13,000 members across 36 office floors in 21 buildings throughout Metro Manila, Cebu, and Iloilo.
While the amount of the new investment was not specified, it was disclosed that it is a big boost to a capital expenditure of US$1 million for per floor expansion.
With the fresh funding coming from AIGF, the company targets to grow from having 57,151 square meters (sqm) of office space to 77,236 sqm. This should translate to seats expansion from 10,367 seats to 14,229 seats.
“We have been growing organically since KMC Solutions was founded and [this announcement] further cements our commitment for continued expansion throughout the Philippines. We are in a leading position to support the increasing number of startups, multinationals, and IT-BPO players who prefer beautifully designed workspaces and flexible lease terms,” Michael McCullough, Managing Director and Co-Founder of KMC Solutions, said.
Globally, demand for flexible office space shows no signs of slowing as the market is expected to witness significant growth in the coming years.
Right now, KMC Solutions is the most dominant player in the Philippines flexible workspace market. Its services include managed business services such as HR & payroll management, business continuity planning, and virtual offices.