WeWork Inc. (NYSE: WE), a leading global flexible space provider, is partnering with Yardi, the leading provider of real estate software, to accelerate speed to market and deliver more enhanced capabilities to the already announced WeWork Workplace product. By partnering, the two organizations will provide companies of all sizes with a universal platform for powering and optimizing flexible workplace strategies.

The rapid adoption of the flexible hybrid work model has forced businesses to rethink and optimize their office and space utilization strategies with an emphasis on creating a more seamless and purposeful employee experience. The partnership will merge Yardi’s industry-leading software and tech capabilities with current WeWork Workplace booking capabilities to create a software solution tailored for corporate enterprise users. This enhanced WeWork Workplace product, set to launch in July 2022, will help facilitate this transition and enable companies to offer their employees the ability to seamlessly book a desk, private office or conference room in any company-leased or owned office space, any WeWork location, or any affiliate of WeWork.

For almost 40 years, Yardi has provided integrated property management software and solutions to landlords, investors, owners and operators. As a result, this partnership will marry Yardi’s industry-leading software and tech capabilities with WeWork’s global member network of more than 26,000 small and medium-sized businesses and 2,300 enterprise clients - including 63% of Fortune 100 companies.

“As we began to launch WeWork Workplace, we saw an incredible opportunity to accelerate the growth and capabilities of our product with the expertise of Yardi’s platform. Together, WeWork and Yardi have the ability to build a scalable end-to-end solution for powering the future of work. This partnership underscores the importance of delivering holistic solutions that can cater to every type of real estate strategy,” said Scott Morey, President of WeWork Technology and Innovation.

“Yardi has a more than 30-year history of developing innovative software solutions for commercial real estate. Today Yardi software is used to manage 12 billion square feet of commercial space. We are thrilled to have the opportunity to create a state-of-the-art solution for corporate enterprises around the world,” said Rob Teel, Senior Vice President, Global Solutions, Yardi.

About WeWork:

WeWork (NYSE: WE) was founded in 2010 with the vision to create environments where people and companies come together and do their best work. Since then, we’ve become one of the leading global flexible space providers committed to delivering technology-driven turnkey solutions, flexible spaces, and community experiences. For more information about WeWork, please visit us at https://wework.com.

About Yardi:

Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. With over 7000 employees, Yardi is working with our clients globally to drive significant innovation in the real estate industry. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.

Category: Investor Relations

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