The actual property trade was comparatively sluggish to undertake expertise, nevertheless it’s now rapidly catching up. That signifies that just about each a part of the trade is seeing numerous startup exercise. Juniper Sq., which immediately introduced it has raised a $6 million Sequence A spherical led by Felicis Ventures, is tackling the true property funding facet by serving to funding managers elevate and handle outdoors capital for his or her tasks.
The corporate was based in 2014 and launched its funding platform in 2017. At this time’s funding spherical brings the corporate’s whole funding thus far to $eight million; the corporate plans to make use of the brand new inflow of capital to speed up its product improvement and develop its crew to raised service its consumer base.
San Francisco-based Juniper Sq., which additionally just lately opened an workplace in Austin, says it has quadrupled each its income and managed property over the course of the final yr. Greater than 100 actual property managers switched their non-public fairness funds to the corporate’s platform final yr, and these now service greater than 50,000 buyers and handle greater than three,000 investments on the platform which have a complete price of virtually $200 billion.
“The actual property trade has traditionally been very underserved by expertise, particularly in funding administration,” mentioned Alex Robinson, Juniper Sq.’s co-founder and CEO. “Actual property companies are searching for to profit from improvements in expertise, and our resolution helps companies of all sizes higher handle all the life cycle of their capital relationships. This new spherical of funding will allow us to quickly enhance our product for each sponsors and buyers.”
Robinson advised me the corporate nearly broke even final yr, regardless of including 25 new staff. However the brand new funding will now permit the corporate to spend money on forward-looking tasks that in all probability received’t repay till a yr or two from now. “For instance of this, we’re actually excited by the chance to take a position much more within the investor expertise on our platform,” he mentioned. “There’s rather a lot we are able to do to additional simplify the advanced course of of personal investing for buyers, and to assist them get extra perception from their investments.”
With greater than 30,000 funds presently in enterprise, Juniper Sq. nonetheless has loads of room to develop, however the firm hopes that its platform, which supplies managers all of the instruments they should maintain observe of their investments and buyers, will win over extra of the present funds over time.
Once I requested Robinson about Juniper Sq.’s roadmap, he famous that the corporate’s mission is basically to switch all of the Excel spreadsheets that presently float round these funding companies. “Excel is an unimaginable product — I do know, I was a product supervisor for Microsoft Workplace — nevertheless it was by no means meant to be a database or a workflow/collaboration instrument. But that’s precisely the way it’s used inside 99 % of funding companies,” he mentioned. “So our roadmap is fairly easy: We search for locations the place Excel shouldn’t be used, and we change it with purpose-built software program. There are numerous spreadsheets flying round companies, so there’s nonetheless rather a lot to do.”
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