Proptech startup Juniper Square announced Thursday that it has raised $25 million to fuel its software platform for commercial real estate investment firms.
Over the last four years, the San Francisco-based startup has added more than 150 market-leading investment firms as customers, including Gaw Capital, PCCP, LLC, Rockpoint Group, Rockwood Capital, Stockbridge Capital and Tishman Speyer, the company said. Juniper Square is used to manage nearly 10,000 real estate investments, and more than $50 billion of capital is being raised across nearly 500 active offerings on Juniper Square.
To date, Juniper has raised $33 million in venture capital. The most recent funding round was led by Ribbit Capital and included participation from Felicis Ventures.
The funding will further accelerate the company’s growth, said Juniper CEO Alex Robinson.
“We are only at the beginning of our plans for Juniper Square,” Robinson said. “We envision a future where managers are free to focus their time exclusively on managing real estate and building investor relationships, with software and services taking care of the routine operational tasks associated with raising and managing outside capital.”
Founded in 2014, Juniper created software that streamlines fundraising, investment operations and investor reporting. The platform is specifically designed for real estate and currently manages nearly 10,000 real estate investments.
“We believe that, over time, we will be able to help managers not just run their capital markets operation more efficiently, but also connect to new sources of capital and pursue new business models like open-end funds that previously required significant scale to operate, all while providing the market more liquidity and a lower overall cost of capital,” Robinson added.
Juniper is among a growing group of proptech startups that are aiming to transform real estate through innovative technologies. While a broad field, proptech can include products or services for homebuyers and sellers, smart-home devices, office administration, building management, marketing, construction and even city-planning.
In 2013, proptech firms attracted $459 million in global venture capital funding, according to CB Insights. That amount of funding for proptech surged in 2016 to $2.66 billion, according to CB Insights.
And the growth trend doesn’t seem to be slowing. Global venture capital investment in real estate innovation skyrocketed to $12.6 billion in 2017.
To learn more about proptech and tools to help real estate investors, check out the articles below.