Working out of a snug one-bedroom apartment in New York, entrepreneurs Sean Sheikh and Mike Valenti knew they had to find a permanent home. That was four years ago, about the time they got their first look at a WeWork space. After falling in love with the vibe, they were ready to sign on the dotted line but were told that it was already full.
“There was a long waiting list,” says Sheikh, co-founder of Phoenix Energy Group, which helps businesses become more energy efficient. “WeWork NoMad opened, and we moved in. We ran out of space, so we moved to WeWork Irving Place.”
And the company continues to grow at a rapid pace. It recently landed on the Inc. 5000 list of fastest growing startups around the country. It ranked twelfth among companies in the New York City area.
“For a while, we knew we were growing well,” Sheikh says. “And seeing our ranking, we realize we’re actually doing things the right way. So it solidified that our strategy, work ethic, and style are working.”
Phoenix Energy Group, which helps New York businesses go green by increasing their energy efficiency, has a philosophy of “growing organically.”
“We had no outside funding, and we have $5.1 million in revenue,” Sheikh says.
Sheikh says if it wasn’t for the community team at WeWork Irving Place helping make business connections and providing resources, the startup wouldn’t be where it is today.
“We’ve had a lot of meetings happen by happenstance,” say Sheikh, pointing out that the building’s community manager introduced them to a young woman who also worked in the energy field. “Turns out we went to the same college. We ended up getting on her platform. Totally not something I would’ve found on my own.”
Phoenix Energy Group is now looking to take its business to Boston. Of course it’s looking at the city’s WeWork offices.
“We made a couple trips and checked out the landscape,” Sheikh says. “I booked one conference room for an hour there and had a place to work, sit, grab coffee, and make friends all on day one.”