WeWork, a NYC-based provider of collaborative workspaces and infrastructure, reportedly raised $430m in Series F funding round.
The round was led by Legend Holdings and Hony Capital with participation from existing and new partners.
The company intends to use the funds to expand into new countries and cities, in China, Korea and India.
Led by Adam Neumann, Chief Executive Officer, and Miguel McKelvey, Chief Creative Officer, WeWork provides entrepreneurs, freelancers, startups, artists, small businesses and divisions of large corporations with collaborative, physical spaces for teams of any size.
The company currently has a community of over 50,000 members who collaborate in-person via a digital app that lets people connect and work virtually with other members around the world. It also runs formal and informal events to encourage connections and give access to health care, payment processing, IT support, payroll, legal and education and training services.
WeWork had previously raised approx $950m from such backers as Fidelity Investments, Benchmark Capital, T. Rowe Price, Harvard Management Co., Wellington Management, J.P. Morgan Chase, and Goldman Sachs.