Ousted WeWork CEO Adam Neumann has returned with an investment in Alfred, a start-up that works for residential buildings, giving its residents concierge-like services.
It was just a year ago, that WeWork was helped by SoftBank after it faced a disastrous attempt while going public. It resulted in the ouster of WeWork’s CEO and co-founder Adam Neumann.
Ousted WeWork CEO and co-founder Adam Neumann impressed with Alfred’s accomplishments in real estate
Two sources familiar with the deal have confirmed that Neumann’s family office 162 2nd LLC has led a $42 million investment round in Alfred. It has reportedly put up $30 million for this round. Other investors present in the round are venture capital firms New Enterprise Associates, Spark Capital, and Greystar.
Neumann has been interested in residential real estate since 2016. It was at WeWork that WeLive a co-living concept was launched, but it never scaled as expected. A spokesperson for Neumann said that the former WeWork CEO is impressed by the two visionary founders of Alfred and their accomplishments for the start-up. He is excited to support Jess, Marcela, and the Alfred team as the company grows further.
The company building the future of living, says Alfred CEO and co-founder, Marcela Sapone
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Hello Alfred, founded six years ago as a service provider handles household chores like laundry and cleaning. CEO and co-founder Marcela Sapone stated in a press release that the company is building the future of living.
On the recent investment round, Sapona said that the financing would help the company grow in sync with the expanding in-home economy. She said that she is grateful for the support received from both their existing and new investors and the confidence in Alfred’s strategy, platform, and vision.
Alfred provides residents with service for food and essentials deliveries in pandemic
Sapona had compared Alfred’s work with WeWork. She had stated that WeWork is known to transform commercial real estate, whereas Hello Alfred transforms residential real estate, redefining the future of living in a city.
For the last three years, Alfred has worked jointly with residential buildings, offering its platform to its residents. Also, in the coronavirus pandemic, it announced that it would allow residents irrespective of the building to use its service for food and essentials deliveries. It continues to offer this service in 20 markets across the United States.