Former WeWork CEO Adam Neumann has successfully secured over $100 million for his proptech venture, Flow, pushing the company’s valuation to approximately $2.5 billion, Bloomberg disclosed on Thursday.
According to sources familiar with the transaction, Bloomberg reported that Andreessen Horowitz (a16z), an existing investor, participated in the latest funding round.
Neumann expressed confidence to Bloomberg, stating he was “sure” Flow has the potential to become a publicly traded company in the future.
Flow, which specializes in rental and co-living solutions within the residential real estate sector, had previously garnered $350 million from Andreessen Horowitz in 2022, achieving a $1 billion valuation. This substantial investment drew attention due to Neumann’s controversial history with WeWork. Despite reaching a valuation peak of $47 billion, WeWork filed for bankruptcy protection in 2023 and was eventually sold to the real estate conglomerate Yardi for $450 million.
TechCrunch has contacted both Andreessen Horowitz and Flow for further comments.
(Source: TechCrunch)
