SaksWorks

What SaksWorks does

Convene WorkPlace is a premium flex office provider operating under parent CHG (Convene Hospitality Group). The company offers three core products: WorkSuites (dedicated, branded private offices for teams of 10 to 100+ on monthly subscriptions), Membership (communal workspace access for individuals and small teams with access to huddle rooms, conference rooms, lockers, and a curated snack bar called Nourish), and Workplace Day Pass (on-demand single-day access available at Club 75 by Convene in NYC through a self-serve booking portal). The platform is built around combining traditional flexible office space with hospitality-grade amenities, including on-site management and hospitality teams, a full-service kitchen with mobile food ordering, unlimited snacks and beverages, and a member programming calendar (workshops, networking events, happy hours, book signings). Technology components are limited to tech-enabled conference rooms, mobile food ordering, and booking systems; no proprietary AI/ML capability is described.

The business model is primarily subscription-based recurring revenue from WorkSuites and Membership contracts, supplemented by usage-based revenue from Day Passes and transactional revenue from Meeting and Event space rentals (cross-sold via the legacy etc.venues brand). Pricing is custom and quote-based rather than publicly disclosed. Go-to-market combines direct enterprise field sales driven by an 'Inquire' contact form and a complimentary Design Team consultation, with parallel channels through a broker referral program, landlord partnerships, and a Refer-a-Friend cash reward program. Convene operates 8 physical locations across the US (New York, Chicago, Boston, Philadelphia, San Francisco, Washington DC) and the UK (London, Manchester), with a new London West End venue (Convene Rathbone) planned to open in 2027. The company has raised $230 million in strategic growth capital through its parent group to fund expansion.

Customer segments are segmented horizontally by size: enterprise and mid-market companies taking dedicated offices as the primary segment, and individuals/small teams served through Membership and Day Pass offerings as a secondary segment. Geographic footprint spans 6 US markets and 2 UK markets. The company is privately held with no public ticker, no disclosed headcount, and no revenue disclosures; revenue estimation must be inferred from footprint, pricing tier, and capital raised.

Name

SaksWorks

Website

https://saksworks.com

Company type

Private

Operating status

Operating

Short description

Convene WorkPlace is a premium flex office provider operating 8 locations in the US and UK, offering dedicated WorkSuites for teams of 10-100+ and Memberships for individuals, with integrated hospitality services including on-site culinary, programming, and flexible terms.

Ownership category

akta.pro rank

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales

Revenue model

1. WorkSuites (Dedicated Private Office): Subscription-based dedicated office space for teams of 10 to 100+, with flexible terms allowing scale up or down. Includes standard furniture (sit-stand desks, ergonomic chairs, filing cabinets), design consultation, and customization options such as in-suite branding and custom wall colors.
2. Membership (Communal Workspace Access): Subscription-based membership providing access to communal workspaces for individuals or small teams, including private huddle and conference rooms, dedicated locker storage, and full membership perks such as the Nourish snack bar.
3. Day Pass (On-Demand Workspace): On-demand day passes for access to premium shared workspaces at Club 75 by Convene in NYC. Includes WiFi, quiet areas, phone booths, lounge spaces, and access to conference rooms.
4. Meeting and Event Spaces: Preferred pricing on Meeting and Event spaces for WorkPlace members. Separate rental of fully serviced meeting and event venues.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

SaksWorks is a new membership club that bundles benefits and services across both life and work domains for its members. The club offers a subscription-based membership experience intended to serve individual consumers seeking integrated personal and professional lifestyle benefits.

Product overview

Convene WorkPlace is a unified flex office platform offering multiple workspace solutions: WorkSuites (dedicated private offices for teams of 10-100+), Membership (communal workspace access for individuals and small teams), and Workplace Day Pass (on-demand daily access at Club 75 NYC). The platform differentiates through hospitality amenities including on-site management, culinary services, unlimited snacks and beverages, and member programming/events.

Differentiator

Problem solved

Functional benefit

Brands

• WorkPlace: Premium flex office solution comprising dedicated private workspaces for teams of 10 to 100+, and memberships for individuals or small teams.
• WorkSuites
• Club 75 by Convene
• etc.venues

Products and services

• SaksWorks Membership Club

Quantifiable outcome

• Flexible workspace terms allowing scale up or down as needed

Named customers1 record

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• NeueHouse: Premium members-based workspace and cultural hub serving creative professionals and enterprises in NYC, LA, and London. Comparable premium positioning and member programming model.
• Industrious: Premium flexible office provider offering enterprise-grade workspaces with hospitality-style amenities across US and global markets. Closest direct competitor to Convene's premium, hospitality-integrated flex office positioning.
• The Yard: Premium coworking and office space provider on the US East Coast with member-focused amenities and community programming. Comparable membership and hospitality-influenced office experience.
• WeWork: Largest global flexible office operator providing coworking, dedicated offices, and on-demand meeting spaces. Direct competitor in flex office across all of Convene's operating markets.
• Serendipity Labs: Premium flexible office and coworking provider in the US with dedicated office suites and hospitality-style amenities. Comparable enterprise-focused subscription model with hospitality integration.
• Office Space Software / Knotel (rebrand): Enterprise-focused flex office operator providing customized, branded office suites on flexible terms. Direct competitor in the dedicated enterprise workspace segment, though previously underwent restructuring.

Regional players

• Workbar: Premium coworking and flexible office operator concentrated in the US Northeast (Boston area). Comparable hospitality-integrated model though in a smaller geographic footprint.
• Mindspace: Premium flexible office operator with strong presence in Europe and Israel, serving enterprise and SMB tenants. Comparable premium positioning, though focused outside Convene's core US/UK footprint.

Broad incumbents

• IWG (Regus/Spaces): Global incumbent operating Regus, Spaces, HQ, and Signature flexible office brands across 120+ countries. Competes broadly with Convene across enterprise and SMB flex office segments.

Emerging players

• The Wing: Membership-based work and community club for women, offering workspace access alongside programming. Comparable membership-club model intersecting coworking with curated community.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/saks_works
• LinkedInlinkedin.com/company/saksworks

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SaksWorks