- Flow, Adam Neumann’s proptech startup, has raised over $100 million, boosting its valuation to $2.5 billion.
- Existing investor Andreessen Horowitz increased its stake, and Flow continues to expand its real estate holdings.
- Neumann says Flow could go public in the future, despite scrutiny over his WeWork legacy.
Adam Neumann, the controversial former CEO of WeWork, has secured over $100 million in new capital for his latest venture, Flow, in a funding round that values the company at approximately $2.5 billion.
The financing, reported by Bloomberg and confirmed by multiple sources, included participation from existing investor Andreessen Horowitz (a16z), which has increased its stake in Flow from 20% to 25%.
Founded in 2023, Miami-based Flow focuses on residential real estate, specialising in rentals and co-living spaces.
The company owns apartment buildings in Fort Lauderdale and Miami, with a 466-unit condo project underway in downtown Miami after recently securing $155 million in construction financing.
Flow has also expanded its portfolio in Miami-Dade County, acquiring an office complex in Aventura for $116 million and a 16-acre development site for $71 million.
The company is reportedly exploring international expansion, including potential projects in Saudi Arabia.
This latest funding round marks a dramatic rise from Flow’s $1 billion valuation in 2022, when a16z invested $350 million before the company had even launched.
The sizable investments have drawn attention given Neumann’s history at WeWork, which collapsed from a $47 billion valuation to bankruptcy in 2023 and was later acquired by Yardi for $450 million.
Despite past controversies, Neumann is optimistic about Flow’s future, telling Bloomberg he is “sure” the company could go public “one day,” but emphasised there is no rush to pursue an IPO.
Edited by Annette George
