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Ousted WeWork CEO invests in 'future of living' startup Alfred

October 14, 2020. Summarized by summa-bot.

NEW YORK, NY - MAY 15: Co-Founder and CEO of WeWork Adam Neumann onstage during TechCrunch Disrupt NY 2017 at Pier 36 on May 15, 2017 in New York City. (Photo by Noam Galai/Getty Images for TechCrunch)

One year ago, WeWork was getting bailed out by SoftBank after a disastrous attempt at going public that resulted in the ouster of its CEO and cofounder Adam Neumann.

(CNN Business)One year ago, WeWork was getting bailed out by SoftBank after a disastrous attempt at going public that resulted in the ouster of its CEO and cofounder Adam Neumann.

Neumann's family office -- 166 2nd LLC -- has led a $42 million investment round in Alfred, a startup that works with residential buildings to provide a concierge-like services for residents, according to a spokesperson for Alfred.

Other investors in the round include venture capital firms Spark Capital and New Enterprise Associates, as well as Greystar, the real estate company, according to a press release from Alfred.

Adam is excited to support Marcela, Jess, and the rest of the Hello Alfred team as the company continues grow," a spokesperson for Neumann said in a statement to CNN Business.

Neumann's interest in residential real estate was evident in WeWork's foray into the sector.

We are grateful for the support of our investors, both existing and new, and the confidence they have placed in our strategy, platform, and vision," said Alfred CEO and cofounder Marcela Sapone in a press release.

Alfred, also known as Hello Alfred, was founded six years ago as a service to handle household chores such as laundry and cleaning, giving people back that "25th hour in your day," as Sapone told CNN Business in 2014.

Today, the company says it's "building the future of living. "

In April, as the pandemic kept people at home, it announced it would allow people, regardless of what building they live in, to use its service for food and essential goods deliveries in the 20 markets it operates across the United States, a service it continues to offer.

"As WeWork transformed commercial real estate, Hello Alfred is transforming residential real estate, and redefining what it means to live in a city today," she told TechCrunch in March 2019.

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