- Flow raised over $100M in a fresh funding round, increasing its valuation to around $2.5B with a16z boosting its ownership stake to 25%.
- Adam Neumann said Flow could eventually go public but emphasized there’s no rush to list the company.
- Flow operates apartment buildings in US cities like Fort Lauderdale and Miami and has expanded into Saudi Arabia, while also launching an office-sharing concept called Workflow.
Adam Neumann, best known for founding WeWork, is back in the spotlight as his latest venture, Flow, more than doubles its valuation following a significant fundraising round.
Flow, which focuses on residential real estate, secured over $100M from investors including Andreessen Horowitz (a16z), pushing its valuation to roughly $2.5B, per Bloomberg.
Building Momentum
Neumann, speaking in an interview for Bloomberg’s upcoming series Bullish with Sonali Basak, said Flow could eventually go public, although he stressed there’s no immediate timeline for an IPO. “We don’t need to rush,” he stated.
The Details
Flow’s new funding strengthens its ties with a16z, which first invested $350M in the company in 2022. The venture capital firm’s stake has now risen to 25% from 20%. Flow, largely owned by Neumann’s family office and employees, expects to achieve cash-flow positivity in 2025, according to a letter circulated to staff.
Currently, Flow’s operations span residential properties in Fort Lauderdale, Miami, and Saudi Arabia. The company has also ventured into the office space market with “Workflow,” an office-sharing business designed to utilize Flow-owned or partner-owned properties.
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A New Direction
While Workflow might draw comparisons to WeWork, Neumann has taken a different approach this time by focusing on building or partnering within owned real estate, rather than leasing large spaces.
Why It Matters
Neumann’s ability to raise substantial capital and double Flow’s valuation suggests investors remain willing to bet on his vision, despite WeWork’s tumultuous history. With a strengthened balance sheet and clear long-term goals, Flow could emerge as a notable player in the evolving residential and flexible workspace sectors.
What’s Next
Flow’s roadmap includes reaching cash-flow positivity by 2025 and, potentially, an IPO in the following years. Given the company’s growth trajectory and Neumann’s track record of scaling businesses quickly, the industry will be watching closely.
