Managed by Q
| Company type | Private |
|---|---|
| Industry | Office management, Facility management |
| Founded | 2014 |
| Founder | Saman Rahmanian, Dan Teran |
| Fate | Acquired by Eden |
| Headquarters | New York City , United States |
Area served | United States (New York City, Chicago, San Francisco, Los Angeles, Boston) |
| Products | Office management platform, cleaning and maintenance services, IT support, inventory oversight, administrative staffing, security solutions |
| Parent | Eden (since 2020) |
Managed by Q was an office management platform headquartered in New York City, established in 2014 by founders Saman Rahmanian and Dan Teran. The company originally concentrated on cleaning and maintenance services before broadening its offerings in 2017 to include a marketplace featuring IT support, inventory oversight, administrative staffing, and security solutions.
Although operating autonomously, Managed by Q was associated with the shared workspace provider WeWork and maintained offices across several major cities, including New York City, Chicago, San Francisco, Los Angeles, and Boston.
On March 3, 2020, Eden purchased Managed by Q from WeWork for a sum of $25 million.
History
After emerging from beta in 2015 in New York City, Managed by Q quickly expanded to Chicago within the same year. Later that year, the company secured $15 million in Series A financing led by RRE Ventures, with notable investors such as Gary Vaynerchuk, Fabrice Grinda, Jessica Alba, and David Stern participating. This funding round supported further expansion into San Francisco.
In 2016, Managed by Q raised $25 million from investors including Google Ventures and Kapor Capital. Subsequently, following a $30 million funding round, M. G. Siegler of GV joined the company's board of directors. That year also marked a collaboration with office supply company Staples Inc. and growth into additional markets including Chicago, San Francisco, and Los Angeles.
The same year saw the introduction of the "Operator Stock Option Program," which offered stock options to frontline employees alongside traditional benefits such as 401(k) plans and health insurance. This program received public endorsement from U.S. Labor Secretary Tom Perez.
MIT Sloan conducted an analysis of Managed by Q’s expansion tactics in 2016, associating them with "The Good Jobs Strategy" developed by MIT professor Zeynep Ton, which highlights the strategic deployment of workforce as a key factor for profitability.
In 2017, the company expanded its service portfolio via a marketplace platform that extended beyond cleaning to encompass IT support and security services. Additionally, Managed by Q acquired Hivy, a task management software startup launched by eFounders.
The firm entered the Boston market in 2018 and later acquired NVS to enhance office space planning and management capabilities within that region.
January 2019 brought another capital infusion of $55 million in Series C funding from investors including GV and RRE Ventures. By April 2019, Managed by Q agreed to be acquired by WeWork.
In March 2020, Eden completed the acquisition of Managed by Q from WeWork for $25 million.