‘Work near home’ workspace operator Patch has completed a £3m fundraise and launched two new sites to accelerate its plans to bring “community-driven neighbourhood workspaces to every high street in the country”.
The company, which transforms empty or neglected local buildings on high streets into design-led community spaces, is aiming to create a UK-wide network of spaces offering SMES, freelancers and hybrid workers the chance to work near where they live.
This £3m funding round included investment from JamJar Investments – the fund launched by the founders of Innocent Smoothies – Blue Wire Capital, Vectr7 Investment Partners LLP, Active Partners (the investors behind Soho House), and Triple Point Ventures.
Angel investors including Peter Roberts, founder of PureGym; Emma Woods, former CEO of Wagamama; Jeremy Sanders, co-founder of Coco di Mama; and Wendy Becker, former CEO of Jack Wills, joined the funding round, alongside a number of tech angel investors.
Patch will use the money to expand its network of spaces. It currently has one operational site in Chelmsford, Essex, and intends to open two more sites in Twickenham and High Wycombe, with the aim of opening up to 100 sites nationally over the coming years.
Patch Twickenham at 42 York Street is being launched in partnership with the BIG South London programme, which aims to unlock knowledge-based economic growth in the area. And in High Wycombe, Patch is breathing new life into a historic former library.
Freddie Fforde, founder and CEO of Patch, said: “Our belief is simple, that great people are everywhere and they deserve the same opportunities too often sequestered in our major cities. The internet has been enabling this shift to a talent-centric world for a long time but was accelerated by the pandemic. We think this creates an exciting opportunity to ‘work near home’; a more flexible model of working and living that’s accessible to all, unleashing the potential of millions of people in hundreds of towns.
‘Work near home’ means a better balance in our lives, less commuting and more time for our neighbours, friends and family, whilst increasing our confidence in the potential of SMEs and flexible workers across the country. With high streets struggling, Patch has the opportunity to bring hope and good news – facilitating communities to come together, invest in each other and celebrate the very best in ‘local’.”
Paloma Strelitz, head of product and creative director at Patch, added: “At Patch, we’re creating lighthouses for local life: these are spaces that both offer people the flexibility to ‘work near home’ in beautiful surroundings, and that also act as a beacon for the local community – creating opportunities for people to work, connect and discover new ideas in their neighbourhood.
“Each Patch space celebrates what makes an area distinctive and special. We do that through architecture and design, transforming buildings with civic value – like former breweries or libraries into new centres for commercial and cultural life. Then we work to be the best host space possible for the community; inviting a diverse range of local businesses, social enterprises, and charities to use Patch as their neighbourhood base and a dynamic venue to host their events.
Jon Wright, from JamJar Investments, said: “There has never been a more important time to support and nurture our local communities. Work and home need no longer be mutually exclusive concepts, and while remote working helped bring them closer together during the pandemic, we now have the opportunity to add community into the equation too.
“Patch is leading the charge on this by unlocking access to flexible working, collaboration and community in one place. By bringing this to the local high street, they are breathing new life back into local economies, while supporting people to work near home and re-engage with the places they live. We are looking forward to supporting Freddie and his fantastic team as they further their mission to bring flexible, community-driven working to every UK high street.”
Peter Roberts, founder of PureGym, added: “We are at a pivotal moment for our high streets. We need to back bold, creative, and innovative companies like Patch if we want to reignite local areas and transform them for the better. There is so much talent and potential in every corner of the UK and Patch is creating a new way for that talent to thrive. I’m proud to be backing this brilliant team and can’t wait to see Patch spaces open up on every high street over the next few years.”
