Breather Raises $20 Million in Round Led by Peter Thiel's Valar

Breather, a Montreal-based startup that rents out work spaces for short periods of time, raised $20 million in a funding round led by PayPal co-founder Peter Thiel’s Valar Ventures.

Breather operates about 100 locations in Montreal, San Francisco, New York, Boston and Ottawa that users looking for a private space can book for a few hours through a mobile application. The funding round will go toward expanding into London, Los Angeles and Toronto, the company said in an e-mail.

“People keep moving to crowded cities even when they’re hard to live in,” Thiel said in the statement. “If you can make cities work better as meeting places, you can build a very valuable business.”

Other participants include Real Ventures, SOS Ventures and Slow Ventures. The round brings Breather’s total funding to $28.5 million.

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