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WeWork has had quite the year in what is shaping up to be quite the decade for the New York-based workspace provider.
Since the beginning of 2017, the company, which has locations in more than 100 cities, has pulled in roughly $1 billion, per reports, bringing its total funds raised to around $2.7 billion.
Its latest infusion of capital was a $500 million round, which WeWork plans to use to expand in Southeast Asia and Korea, per reports. It's acquisition of Spacemob—announced this week—a co-working space provider based in Singapore, will help to expedite the strategic expansion.
But WeWork is far from done raising fresh funds. SoftBank has reportedly agreed to invest up to $3 billion in the co-working juggernaut, with capital coming from the firm’s massive Vision Fund. WeWork is also backed by Hony Capital, Benchmark Capital, DAG Ventures and more. And with $1 billion a year in revenue, per Reuters, additional institutional investors may very well want to pick up their own piece of the company.
We’ve been tracking the company’s fundraising efforts since the very beginning. Here’s a timeline of WeWork’s rise to riches, per PitchBook data.
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Article by Kate Clark, PitchBook