Despite its recent major setbacks, WeWork has taken part in a $4.6 million venture round for commercial real estate startup company Jones.
Jones is a firm that develops software to simplify insurance compliance process for commercial real estate firms.
“We believe the on-demand economy is coming to commercial real estate, and that means the insurance workflows need to be rebuilt for simplicity,” said Omri Stern, Jones’ CEO and co-founder. “Real estate managers, tenants and vendors deserve an effortless and transparent experience when completing the insurance approval process.”
This news follows recent reports stating that WeWork is attempting to raise capital from JPMorgan and Softbank so it does not run out of money by next spring.