Gravity Co’s mission is to improve the lives of today’s rental generation globally through a flexible, community-centred, borderless living experience. We design and operate residential and purpose-built co-living assets in partnership with real estate developers, landlords, and institutional investors.
How did you come up with the idea for the company?
The main drivers behind the idea came from the frustration accumulated over the years living between London, Tel Aviv, Bangkok, and Hong Kong. Overall, the rental experience has always been poor for young professionals needing flexible accommodation.
The market is broken, as you either must commit to a 12/24-month contract while dealing with poor design and management from non-professional landlords or be prepared to pay hotel prices. Either way, professionals struggle to integrate due to the lack of social interaction outside of office hours. This is how Gravity Co came along – we wanted to build a global housing brand to tackle the problems faced by young professionals living and working in global business cities.
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How has the company evolved over the last couple of years?
Over the last 3 years, we have grown into London’s highest-rated co-living company with five operational assets. Revenue has increased 7x, and we are now seeing the brand gain more traction every day. Not only are we gaining increased recognition in London but within the sector itself, having been chosen as the global ‘Co-living Operator of the Year’ in the 2022 Coliving Awards.
The positive trajectory continues as we head toward the end of 2022. Following the recent close of a £5m funding round and expansion of the team, we have made some key strategic staff additions that will support our international expansion goals. We have also attracted top talent within our operations, sales, and marketing teams to elevate and consolidate our offering to institutional real estate partners.
What can we hope to see from Gravity Co. in the future?
We are confident the coming two years will be transformative for Gravity Co as we evolve into an internationally recognised brand with operations in five key European cities and over 1,500 operational units.
We are working hard behind the scenes to build the first truly international housing brand and are in the process of launching a social membership, which will allow us to enter the subscription business. Giving the public access to our community, perks, and events via our dedicated mobile app, while maximising the true potential of our fast-growing portfolio.
We expect to strike additional partnerships with corporates and globally recognised brands to provide accommodation and an instant network for relocating employees, as well as establish strategic relationships with anchor operators/brands, such as coding schools and start-up incubators, to create a real destination out of our buildings.
Lastly, with a clear path to profitability achievable within 6 months, and a fast-growing pipeline of assets approaching 1,000 units, we are in the process of raising our Series B round, which we aim to complete by Q2 2023 ahead of our international opening.