WeWork is a technology company.
WeWork has raised $527.0M across 3 funding rounds.
Key people at WeWork.
WeWork has raised $527.0M in total across 3 funding rounds.
WeWork is a global provider of flexible coworking spaces and office solutions, not a technology company but a real estate services firm offering shared workspaces, private offices, and enterprise strategies in approximately 600 locations across 125 cities in 37 countries.[2][3][6] It serves freelancers, startups, startups, and Fortune 500 enterprises by solving the problem of rigid, costly traditional leases through scalable, move-in-ready spaces with amenities, community events, and predictable pricing, enabling businesses to adapt quickly to hybrid work needs.[1][3][6] As of mid-2025, WeWork is debt-free post-bankruptcy, with revenue up 8.48% to $3.98 billion, positive EBITDA for six months, and over 500,000 members, projecting full profitability in 2025 amid demand for flexible workspaces.[1][4]
WeWork was founded in 2010 by Adam Neumann and Miguel McKelvey, who previously launched GreenDesk, an eco-friendly coworking space in Brooklyn in 2008, before selling it to start WeWork with its first location in SoHo, Manhattan, opening in 2011.[1][2] Neumann, an Israeli entrepreneur, and McKelvey envisioned transforming offices into vibrant, community-driven hubs beyond mere rentals, raising $12.8 billion including from SoftBank, peaking at $47 billion valuation in 2019.[1][2] Rapid expansion led to governance issues and a failed IPO, culminating in Chapter 11 bankruptcy in November 2023; it emerged in June 2024 as a leaner private company under new leadership like CEO Sandeep Mathrani (until later transitions), now with 600 locations and a focus on profitability.[1][2]
WeWork rides the hybrid work trend accelerated by the pandemic, capitalizing on economic uncertainty that boosts demand for flexible leasing over fixed real estate commitments.[1][5] Its timing aligns with enterprises diversifying portfolios—tripling footprints without leases in some cases—amid remote/hybrid shifts, competing with IWG while serving tech-heavy users like startups and Fortune 500s.[4][5] Market forces like rising office vacancies and cost pressures favor its model, influencing the ecosystem by normalizing coworking (now in 119 cities), enabling tech firms' agility, and partnering with governments (e.g., U.S. GSA in 2021).[2][4] This reshapes real estate from ownership to "as-a-service," indirectly supporting tech innovation by freeing capital for growth.
WeWork's turnaround positions it for sustained growth, with 2025 investments in upgrades, enterprise focus, and profitability projections amid flexible space demand.[1][7] Trends like AI-driven hybrid models and economic volatility will shape it, potentially expanding via partnerships and tech integrations for space management.[5][6] Its influence may evolve from hype-driven unicorn to reliable real estate player, empowering tech ecosystems with agile infrastructure—echoing its founding vision of community over leases, now grounded in discipline.[1][3]
Key people at WeWork.
WeWork has raised $527.0M in total across 3 funding rounds.
WeWork's investors include Benchmark, Crosslink Capital, Sapphire Ventures, Aleph VC.
WeWork has raised $527.0M across 3 funding rounds. Most recently, it raised $360.0M Series D in October 2014.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 1, 2014 | $360.0M Series D | Benchmark, Crosslink Capital, Sapphire Ventures | |
| Nov 1, 2013 | $150.0M Series C | Aleph VC | |
| Mar 1, 2012 | $17.0M Series A | Benchmark, Crosslink Capital, Sapphire Ventures |
