Adam Neumann Family Office Invests In Alfred's $42M Series C

The single family office of WeWork founder Adam Neumann – 166 2nd LLC – invests in the Series C funding round of resident management software startup Alfred.

Resident experience startup from New York

Hello Alfred is a software platform that enables real estate owners to offer residents “an exceptional living experience by providing leading-edge technology with personalized hospitality services”. For example, rent payments can be managed through the app, maintenance requests can be handled, incoming packages can be managed, property managers and concierges can be coordinated. The company is working for large real estate investors and owners like Jamestown, Invesco or Brookfield Properties. The software is applied at more than 100,000 homes in the United States.

Neumann single family office as investor

There were various investors in Alfred’s recent $42M Series C funding round, amongst others from Spark Capital, NEA or Greystar. Adam Neumann’s single family office 166 2nd LLC is a new investor. Usually, 166 2nd LLC is primarily engaged in personal real estate transactions of Neumann. Now, the family office also engages in a venture capital deal. Neumann’s net worth is estimated between $450M and $750M. He is the founder of co-working firm WeWork, where he had to step down as CEO in 2019.

Source: Pulse2, 28.10.2020
Picture Source: Kamal Kant Kosariya