Adam Neumann’s Flow raises over $100M at $2.5B valuation
Backed by a16z, the ex-WeWork CEO's real estate platform targets global expansion.
Adam Neumann, the controversial co-founder and ousted CEO of WeWork, has once again captured the attention of Silicon Valley and Wall Street. His new venture, Flow—a residential real estate startup—has raised over $100 million in a Series B funding round, bringing the company’s valuation to approximately $2.5 billion.
The funding round, which includes renewed backing from venture capital giant Andreessen Horowitz (a16z), positions Flow as one of the most highly valued startups in the increasingly tech-savvy property sector. a16z, which already made headlines in 2022 for investing $350 million in Flow at a valuation of over $1 billion—its largest single investment at the time—has reaffirmed its commitment to Neumann’s vision, even as skepticism around founder-led moonshots remains high in today’s venture capital climate.
Flow is perhaps best understood as Neumann’s attempt to rewrite his own narrative. Where WeWork sought to reshape the office, Flow is targeting the way people live—starting with a vertically integrated residential experience that blends technology, design, hospitality, and community into one platform. In a letter to employees obtained by Calcalist, Neumann laid out a sweeping vision for the company’s growth and philosophical foundations.
“From day one, we embraced the challenge of rethinking residential real estate from the ground up,” he wrote. “To achieve our mission of connecting people to their community, to the outside world, and to the best version of themselves, we needed to reinvent the entire experience.”
Flow’s pitch is ambitious: to turn a building—or, increasingly, a neighborhood—into an adaptable, tech-enabled living environment that functions more like a product than a property. In South Florida and Saudi Arabia, Flow has already deployed offerings such as Flow House, a condo concept that Neumann claims is “the fastest selling condo project in South Florida, if not the country.”
From physical space to digital infrastructure
Flow’s core promise is more than just luxury amenities. It’s built on a software platform that aims to manage entire buildings—soon, entire districts—with minimal human input. According to Neumann, the company’s real estate management system will “create a dynamic business model inside a fixed piece of real estate,” and integrate seamlessly with artificial intelligence.
“Our software positions us better than anyone in our industry to capitalize on the seismic leaps enabled by AI,” he said, claiming Flow is already seeing real-world results.
In Saudi Arabia, Flow’s properties are reportedly being run “entirely without a third-party property management system,” making them the company’s first fully vertically integrated sites.
Neumann also hinted at global ambitions and upcoming large-scale developments: “Our two new major development projects in South Florida give us the opportunity to create Flow communities at scale.”
The question that looms over any venture involving Neumann is how much of WeWork’s legacy—and failure—will carry over. The collapse of WeWork, once valued at $47 billion, remains one of the most dramatic startup implosions in modern history. Yet in a venture ecosystem still driven by outsized visions and charismatic founders, Flow’s progress suggests that investors believe in second chances—at least when paired with a new market and a sharpened product.
In the letter to employees, Neumann was careful to credit his team and his backers. “None of this could have occurred without a16z,” he wrote. “Having the right partners is a vital input for success in any business venture. In the a16z team, we have the best partners in the world.”
The company currently operates with teams spread across South Florida, New York, Riyadh, and Palo Alto. It now forecasts positive cash flow in 2025, a milestone that, if achieved, would set Flow apart in a startup environment increasingly focused on sustainability and bottom lines.
Neumann closed his letter with an evocative flourish: “We’re just getting into our flow.”
First published: 18:22, 24.04.25
