The Co-working place, WeWork co-founder and former CEO Adam Neumann has received around $350 million in funding from top investment fund Andreessen Horowitz (a16z) for his upcoming new rental real estate business, called Flow. The valuation of Flow puts investment over $ one billion (a unicorn status), and the startup is yet to be launched.
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“We are excited to partner with Adam Neumann and his colleagues on Flow. Adam is a visionary leader who revolutionised the second largest asset class in the world, commercial real estate, by bringing community and brand to an industry in which neither existed before,” Marc Andreessen said in a blog post late on Monday. “We think it is natural that for his first venture since WeWork, Adam returns to the theme of connecting people through transforming their physical spaces and building communities where people spend the most time: their homes,” he added.
In May, over $70 million was invested into Neumann’s Blockchain-based carbon credit platform, Flowcarbon.
“We understand how difficult it is to build something like this, and we love seeing repeat-founders build on past successes by growing from lessons learned,” Andreessen said.
