August 13, 2018--MyDreamPlus, a smart workspace service brand, announced today that it has completed its US$120 million Series C funding round, led by Hillhouse Capital and General Atlantic. Existing investors including JOY Capital, Ocean Link, M31 Management Fund of Giant Network Group, and K2VC also participated in this round. China Taihecap served as the exclusive financial advisor.

It has been four months since MyDreamPlus completed its RMB300 million Series B financing, which was led by Ocean Link, M31 Management Fund of Giant Network Group, and JOY Capital, at the end of March 2018. The completion of the Series C round of financing will support further growth for the company, allowing it to consolidate a leading position in the domestic co-working space and workspace industry.

Since it was founded in 2015, MyDreamPlus has focused on building an Office as a Service system (“OaaS”), which integrates space design, smart office management, and community operation. Currently, the company operates around 300,000 square meters of floor space across nearly 40 office units/properties in the core business districts of Beijing, Chengdu, Shanghai, Hangzhou, and Xi’an. All of the firm’s operating office units have an occupancy rate of greater than 95% when they enter concrete operational stage and reported profitability.

This round of financing will further support MyDreamPlus’ expansion into the Tier 1 cities in which it operates, such as Beijing and Shanghai, as well as into new Tier 1 cities, including Chengdu, Hangzhou, and Xi’an, and will also allow the company to increase investment into R&D and upgrade its smart office spaces.

Source: https://www.generalatlantic.com/media-article/mydreamplus-secures-us120-million-in-series-c-funding-led-by-hillhouse-capital-and-general-atlantic/