WeWork backs The Wing, a women-only co-working space
November 22, 2017
The Wing, a New York-based operator of social clubs and co-working spaces for women, has raised a $32 million Series B financing led by WeWork. Founded last year, The Wing raised an $8 million Series A in April from investors including NEA and Kleiner Perkins Caufield & Byers. The startup, which boasts an all-female leadership team, will use the capital infusion to expand outside New York, where it currently has two locations.
WeWork's investment may be a precursor to a possible acquisition of its much smaller (but rapidly growing) competitor. After all, the $21 billion co-working behemoth has been an active buyer this year, with five completed purchases under its belt, according to the PitchBook Platform. Those targets include coding bootcamp Flatiron School and Spacemob, another co-working company.