Former WeWork CEO Adam Neumann has raised over $100 million in capital for his proptech startup, Flow, in a round that values that company at about $2.5 billion, Bloomberg reported on Thursday.Citing anonymous sources familiar with the deal, Bloomberg reported that existing backer Andreessen Horowitz (a16z) participated in the financing.Neumann told Bloomberg that he was sure Flow was a company that could go public one day.Flow a residential real estate company focused on rentals and co-living raised $350 million from Andreessen Horowitz at a valuation of $1 billion in 2022.
The funding raised eyebrows given the problematic history of Neumanns previous startup, WeWork.
Once valued at $47 billion, WeWork filed for bankruptcy protection in 2023 and was ultimately acquired by Yardi, a real estate group, for $450 million.A Technology NewsRoom has reached out to Andreessen Horowitz and Flow for comment.