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§ Private Profile · Montréal, QC, Canada
Flexible workspace solutions, private offices, and meeting rooms for rent by the hour, day, or longer terms via app or online platform.
Breather is a commercial space-as-a-service company based in Montreal and New York that provides flexible workspace solutions by offering private offices and meeting rooms for rent on an hourly, daily, or monthly basis. The digital platform allows independent professionals and corporate businesses to bypass long-term commercial leases by booking on-demand workspaces equipped with plug-and-play technology through a centralized mobile application. Before facing significant operational challenges during the pandemic, the company operated hundreds of locations across major metropolitan markets, including New York, San Francisco, Los Angeles, and London. Previously holding a nine-figure valuation, the enterprise ultimately scaled down to 29 employees and was acquired by flexible workspace provider Industrious for US$3 million under the leadership of former chief executive officer Bryan Murphy. Breather was originally founded in 2012 by Julien Smith and Caterina Rizzi.
Breather has raised $178.5M across 7 funding rounds.
Breather has raised $178.5M in total across 7 funding rounds.
Breather is a Montreal-based technology-enabled provider of flexible workspaces, offering on-demand access to private offices, meeting rooms, and productivity spaces via an app and online platform.[1][2][3] It serves freelancers, remote workers, and enterprises needing short-term spaces without long-term leases, solving the problem of finding quiet, reliable alternatives to coffee shops or crowded offices.[1][5] Originally operating its own network, Breather pivoted post-2020 to a marketplace model after insolvency filings, where users book third-party listed spaces; it was acquired by Industrious in 2021 for key assets.[1][6]
The company raised $122.5 million by 2018, peaking with over 500 spaces in 10 cities, but faced challenges from overspending and COVID-19, leading to a restructured, leaner operation focused on profitability.[1][4][6]
Breather was founded on November 1, 2012, by Julien Smith (CEO initially) and Caterina Rizzi in Montreal, Canada.[1][3] Smith, an author of three books and frequent traveler for speaking events, conceived the idea after struggling to find quiet workspaces in coffee shops during trips; Rizzi, a Concordia University alum (BA '04), identified a gap for freelancers lacking a reliable "third space" beyond home or noisy public spots like locked churches or loud libraries.[1][5]
The company soft-launched in Montreal before expanding to New York City and beyond, achieving early traction with a focus on private, comfortable rooms bookable via app for meetings or focused work—even big firms like Apple and Facebook used it off-site.[1][5] Julien Smith stepped down as CEO in January 2019, replaced by Bryan Murphy, a former eBay executive.[1] By 2020, amid $120 million in spending from raised funds, U.S. and U.K. subsidiaries filed for insolvency to exit 355+ leases, paving the way for Industrious's 2021 asset acquisition and Breather's shift to a listings marketplace.[1][6]
Breather rode the sharing economy wave in prop tech, capitalizing on the pre-2020 rise of freelancing, remote work, and gig economy needs—projected to grow from $15 billion in 2015 to $335 billion by 2025 per PwC—by offering flexible alternatives to rigid offices or subpar cafes.[1][5] Timing aligned with evolving work norms, where meetings shifted off-site and "laptop hobos" demanded private productivity spaces, influencing competitors like WeWork.[5][6]
Market forces like urbanization and digital nomadism favored it initially, but COVID-19 exposed vulnerabilities in physical space demand, forcing a pivot that positioned Breather as a resilient marketplace player amid hybrid work trends.[1][6] It highlighted prop tech's adaptability, influencing the ecosystem by normalizing on-demand workspaces and accelerating consolidations (e.g., Industrious acquisition).[6]
Breather's journey from venture darling to streamlined marketplace underscores prop tech's volatility, but its core app and network provide a foundation for growth in a post-pandemic world favoring flexibility.[1][6] Next steps likely involve expanding third-party listings, AI-enhanced matching, and integrations for hybrid teams, shaped by enduring remote/hybrid trends and economic pressures on long-term leases.[2][3]
As consolidation continues, Breather could evolve influence by powering broader "space-as-a-service" platforms, tying back to its origins: solving the simple need for a quiet, reliable spot to work, now more relevant than ever.[5][6]
Breather has raised $178.5M across 7 funding rounds. Most recently, it raised $45.0M Other Equity in June 2018.
Breather has raised $178.5M in total across 7 funding rounds.
Breather's investors include Menlo Ventures, Yi Ta Chng, Temasek, Cisco Investments, Conversion Capital, Greylock, Lightspeed Venture Partners, Madrona Ventures, Maveron, Princeville Capital, RRE Ventures, Louis Beryl.