Former WeWork CEO Adam Neumann has raised over $100 million in capital for his proptech startup, Move, in a spherical that values that firm at about $2.5 billion, Bloomberg reported on Thursday.
Citing nameless sources acquainted with the deal, Bloomberg reported that current backer Andreessen Horowitz (a16z) participated within the financing.
Neumann advised Bloomberg that he was “positive” Move was an organization that might go public “at some point.”
Move — a residential actual property firm centered on leases and co-living — raised $350 million from Andreessen Horowitz at a valuation of $1 billion in 2022. The funding raised eyebrows given the problematic historical past of Neumann’s earlier startup, WeWork. As soon as valued at $47 billion, WeWork filed for chapter safety in 2023 and was in the end acquired by Yardi, an actual property group, for $450 million.
TechCrunch has reached out to Andreessen Horowitz and Move for remark.