WeWork, a New York-based shared workspace provider, raised $400m in funding.
Fidelity Management and Research Company joined previous investors including funds and accounts advised by J.P. Morgan Investment Management Inc., funds and accounts managed by T. Rowe Price Associates, Inc., clients of Wellington Management Company, The Goldman Sachs Group and Benchmark Capital.
The company intends to use the funds to continue to expand operations. It is hiring.
Led by Adam Neumann, CEO, and Miguel McKelvey, Chief Creative Officer, WeWork provides space, community, and services for teams of any size.
Its community include over 25,000 members who collaborate in-person. In addition, a digital app lets users connect and work virtually with other members around the world.
Events – formal and informal – are organized to encourage connections
Services include access to health care, payment processing, IT support, payroll, legal, education and training.
It has 500 employees and the 29,000+ members in its community.