MyDreamPlus

About MyDreamPlus

MyDreamPlus, founded in May 2015 by Xiaolu Wang, Mengfei Wen, and Wenlei Li, operates within China's competitive co-working sector. The company has positioned itself by focusing on the integration of technology into physical office spaces, a strategy encapsulated in its "Office as a Service" (OaaS) system. This proprietary system is built on three core components: an independently developed smart office management platform, a standardized approach to spatial design, and operations refined through big data analytics. The founders' collective background in technology, design, and internet operations has been central to the development of this tech-centric business model.

The business generates revenue by providing flexible managed workspaces to a diverse clientele, ranging from freelancers and startups to large corporations like Tencent, Lenovo, and AirAsia seeking satellite offices. MyDreamPlus offers various membership options, including private desks, dedicated offices, and meeting room access, all managed through its integrated platform. This system allows users to handle everything from door access and conference room bookings to printing services via a single interface, often integrated with WeChat for user convenience. This technological layer is designed to increase operational efficiency, allowing for a lean on-site management team, and to enhance the user experience by providing seamless control over the office environment.

Since its inception, MyDreamPlus has undergone significant expansion. After establishing a strong presence in Beijing, the company expanded into other major Chinese cities, including Chengdu, Shanghai, Hangzhou, and Xi'an. A key milestone was the Series C funding round in August 2018, where the company raised $120 million, led by Hillhouse Capital and General Atlantic. This capital was earmarked for further expansion in first-tier cities and for continued investment in research and development to upgrade its smart office solutions. The company's focus on technology as a differentiator is pronounced, with a significant portion of its staff dedicated to product development. By 2018, MyDreamPlus reported operating approximately 300,000 square meters of office space and claimed high occupancy rates of over 95% in its established locations.