The situation
Switchyards is a membership-based coworking concept. It’s where you go to get your best work done. Think college library vibes meets dive bar energy meets boutique hotel polish—open 24/7.
When they came to Homegrown, they had 10 locations across Atlanta and a clear path to scale nationally.
But founder Michael Tavani had a problem when evaluating his options for growth capital. Raising an equity round would mean diluting his ownership at a valuation that didn't reflect where the business could eventually go. And beyond the dilution, fundraising is a full-time job: building pitch decks, taking meetings, negotiating terms, all while trying to actually run and grow the business.
The alternative was bootstrapping with cash flow. That meant growing slowly and potentially missing the window to scale.
Michael needed capital that could move fast, scale with the business, and preserve equity for when it actually made sense to raise.
How we helped
Homegrown funded Switchyards through multiple rounds of our Expansion product:
We started with a smaller deal to fund locations 11 and 12, testing the model outside Atlanta
Once the model was proven and their needs were larger, we provided a significantly larger line to accelerate growth
As Switchyards expanded beyond the Southeast into Denver, Charlotte, Nashville, Dallas, and Columbus, we continued to scale our support alongside the business
We moved quickly at every stage. No months-long fundraising process. No equity dilution. Just capital when they needed it to keep growing.
The result
Switchyards tripled their footprint, going from their original 10 Atlanta locations to 30 across the country. They've expanded from a regional co-working brand into a national one, with locations from North Carolina to Colorado to Texas, and they're still scaling.
By using non-dilutive capital to fund growth, the founders kept control of their company, preserved significantly more ownership, and built a national brand.
Michael Tavani
Switchyards
