Instant has helped cloud-native banking technology company Thought Machine strategically expand for the fourth time in flexible workspace since the UK-headquartered firm broadened its reach into the U.S. at the end of 2020.
The Instant Group has helped cloud-native banking technology company Thought Machine strategically expand for the fourth time in flexible workspace since the UK-headquartered firm broadened its reach into the U.S. at the end of 2020. The company now employs more than 600 people worldwide in London, New York, Miami, Singapore, Sydney, and other locations.
Thought Machine's revenue grew by 339 per cent between 2018 and 2021, as revealed in its #15 ranking in Crain's N.Y. Business' 2022 Fast 50 companies. The Instant Group has worked with the fast-growing firm to plan for and accommodate its growth plans through flexible workspace solutions at Studio by Tishman Speyer at 1230 Avenue of the Americas at Rockefeller Center.
With The Instant Group's help, Thought Machine opened its first office in the U.S. in February 2021 with an 11-desk space on the 19th floor at Studio. In May 2021, the company expanded into an adjacent suite to add 18 desks.
By January 2022, the firm relocated to a private wing occupying 78 desks, nearly half of the 19th floor, with four dedicated conference rooms. Most recently, Instant again helped Thought Machine renew this space in December 2022 on an 18-month term as they continue to grow their New York City footprint. This growth coincided with Thought Machine's impressive reputation in the NYC market: recently being awarded Crain's Best Place To Work in 2022.
"When Thought Machine launched in the U.S. at the end of 2020, they came to Instant needing an office floorplate allowing for high-growth of 50-100 employees in 12-24 months," said Michael Calistri, Director, Solutions Development, The Instant Group. "Together we selected Studio, then a newly opened space in a Class A building in a great NYC flagship location close to their banking clients while still retaining tech and start-up roots in a vibrant, yet professional space. The alliance with Studio has allowed Thought Machine to have the space it needs with expansion opportunities at the ready."
Instant has also assisted Thought Machine in its search for a Miami office, its second location in the U.S., to support its Latin American expansion. Outside the U.S., Instant also supports Thought Machine in its Asia-Pacific flexible space needs.
"As a fast-growing technology business, it's crucial that we have access to flexible space when we are entering a new market. This approach has allowed us to expand at pace and helps us align headcount planning with our real estate footprint," said Matt Wilkins, Chief People Officer, Thought Machine.
"We have planned expansion for Latin America, India, Japan, South Africa, and more markets worldwide. More recently, Instant has been a fantastic partner in supporting our expansion into Miami."
Michael Calistri, Director, for The Instant Group, represented Thought Machine, while Stephanie Manley, Director, Leasing, Tishman Speyer, represented the landlord.