Exciting News: Convene is combining with SaksWorks. Learn more about our expansion plans here

Company News

Convene Announces Strategic Investment Led by Hudson’s Bay Company and Ares Management

Posted April 12, 2022 By Convene

Since 2009, we’ve held steadfast to our mission of delivering a premium experience to our clients. Today marks a major milestone in that journey, as we proudly announce that Hudson’s Bay Company, a holding company at the intersection of real estate, technology and retail, and Ares Management, a leading global alternative investment manager, have made strategic investments that enables Convene to become the largest premium flex meeting, event and workplace business in North America and Europe. 

Convene will now operate HBC’s existing portfolio of flexible work, meetings, event, and restaurant spaces, which is currently branded as SaksWorks and may rebrand as Convene. Through our joint portfolio of 26 facilities under management and dozens more under development, we are now able to expand our all-in-one solution and continue our promise of delivering a premium place to meet and work wherever our customers need it most. 

“We built Convene with a mission of elevating the workday experience. This strategic investment provides instant scale and growth opportunities for our business. We are excited to partner with HBC who is equally focused on delivering premium and flexible experiences to enable today’s distributed workforce,” said Ryan Simonetti, Co-founder and CEO of Convene. “As organizations continue to embrace hybrid work and are demanding higher quality environments in which to gather, we are well-positioned to seize this moment.”

With our network of tech-enabled, award-winning locations and our proprietary virtual and hybrid events platform Convene Studio, we deliver elevated meeting and event spaces that enable business productivity and collaboration. But the core of our enterprise lies with our signature brand of hospitality, delivering a human touch in both the physical and virtual worlds. A team of dedicated on-site professionals welcome each guest and offer in-house assistance with everything from catering to IT/AV support, to ensure workday experiences are effortless and personalized. Alongside unlimited craft snacks, tea and barista coffee, our Head Chefs develop seasonal menus to replenish creative energy in every one of our locations.

“Ryan and his management team have a 12-year track record of building world-class destinations for hosting events, meetings, and flexible workspace,” said Hamid Hashemi, COO, HBC Properties & Investments. “We are looking forward to implementing our shared vision across parts of HBC’s real estate portfolio, including the conversion of certain prime assets into Convene locations.” 

With the investment from HBC and Ares, our future expansion will focus on delivering our products and services to professionals in key urban and suburban markets. As businesses are reimagining their office footprint and hybrid workforce strategies, commercial real estate landlords are also re-thinking what is required to stay competitive in today’s dynamic marketplace. Sought-after amenities such as coworking options, on-site culinary offerings, premium and elevated meeting and event venues, and hybrid technology that were once thought of as “nice to have” are now a “must have”. We are well-poised to bring this fully operationalized solution to a wide variety of commercial real estate partners across the globe.

Read the coverage in the Wall Street Journal, and the full press release.


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