Adam Neumann (twitter)
Former WeWork CEO Adam Neumann has successfully raised over $100 million for his proptech startup, Flow, in a new funding round that values the company at approximately $2.5 billion, according to a report by Bloomberg.
Sources familiar with the deal told Bloomberg that leading venture capital firm Andreessen Horowitz (a16z), an existing backer, participated in the latest round of financing. Andreessen Horowitz initially made headlines in 2022 when it led Flow’s $350 million investment round — one of its largest single investments at the time.
In an interview with Bloomberg, Adam Neumann expressed confidence in Flow’s long-term vision, stating that he was “sure” the company could go public one day.
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Flow, founded by Adam Neumann in 2022, is a residential real estate startup aiming to revolutionize urban living by integrating technology, community-building, and renter equity into the housing experience. Headquartered in Miami, Florida, Flow seeks to address challenges in the housing market, such as affordability and social isolation, by creating environments that foster connection and provide opportunities for renters to build equity.
In 2022, Andreessen Horowitz invested $350 million in Flow Global.
Flow acquired Whalebone, a lifestyle magazine based in Montauk, New York, in May 2024, rebranding it as “Flow Trip” to align with the company’s branding and community-focused approach.
Flow sounds a lot like WeWork. The new startup boasts that it plans to “revolutionize” the residential rental real estate market. It will apparently do so using the many properties that Adam Neumann acquired in recent years.
Flow’s approach combines traditional property management with concierge services and technology solutions for renters and landlords. The company emphasizes fostering a sense of community among tenants through innovative social interaction models, aiming to transform residential living into a more connected and equitable experience. By integrating these elements, Flow aspires to redefine the rental experience, making it more than just a transaction but a pathway to community and personal growth.
In 2019, Neumann was forced out of WeWork, the company which he founded in 2010. After a meteoric rise, the entrepreneur was brought down after allegations of serious drug use and sexual improprieties were made. WeWork was forced to deal with sexual harassment suits. It delayed its planned IPO and laid off many workers.
But Adam Neumann reportedly walked away with a $1.7 billion deal. And so he used this money to acquire real estate and invest in a few new ventures.
