Buildout’s New Investing Partner Fuels Further Growth Plans

Brokerage software company Buildout has announced today that they secured a new investing partner in The Riverside Company. This new round of funding will allow Chicago-based Buildout to accelerate sales, marketing and development team growth, invest more resources into its existing product suite and pioneer new technology to support the entirety of the commercial real estate industry.

“We are excited to bring Riverside on as an investor to support Buildout’s continued growth,” said Buildout CEO Vishu Ramanathan. “I believe Riverside’s depth of resources and experience investing in subscription software businesses will help Buildout realize its vision of becoming the most trusted name in commercial real estate brokerage software.”

Ramanathan provided Connect Media with insights into why the partnership was formed. “Riverside liked that we had a strong financial profile, of course, but beyond that the major factors were customer satisfaction and an opportunity to continue to grow in an underserved technology market,” he said.

From Buildout’s standpoint, “We decided to enter our partnership now because we both see the long-term opportunity in real estate and believe in the opportunity we have to leverage our existing platform to grow.”

Buildout started in 2013 with a $300,000 seed investment and later secured an $8-million Series A investment from continuing partners Susquehanna Growth Equity.

“We’ve been laying the groundwork for some incredibly exciting development,” said Jason Tillery, Buildout co-founder and CTO. “Through our partnership with Riverside, we’ll be able to expand our product development team and deliver some of the best tech CRE has seen faster than we could have ever imagined.”

Buildout’s software is designed to manage the entire deal process of a property from initial prospecting to ultimate sale or lease, including automating the creation of marketing materials, reaching prospective buyers or tenants, powering brokerage listings pages, and sharing transactional documents with all involved parties in a transaction.
Customers interact with Buildout daily to create marketing brochures, syndicate property listings, update their websites for active listings, and monitor buyer activity.

“Buildout has demonstrated its ability to develop and commercialize multiple software products that deliver significant value to its customer base,” said Riverside principal John McKernan. “We look forward to working with management to accelerate organic growth initiatives and strategically pursue add-on acquisitions that will deliver more value to Buildout’s customer base.”

The platform has customers ranging from single-broker shops to some of the largest brokerages in the world including Avison Young, JLL, KW Commercial, Lee & Associates, Marcus & Millichap, NAI Global, RE/MAX Commercial and SVN. Buildout currently supports more than 37,000 active users across North America.

Pictured: Vishu Ramanathan.

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