CREXi’s Series B Funding Spurs Further Growth for Tech Platform
Los Angeles-based CREXi, the marketplace, data, and technology platform for commercial real estate, completed a $30 million Series B funding round led by Mitsubishi Estate Company (MEC), Industry Ventures and Prudence Holdings. Existing investors Lerer Hippeau Ventures, and Jackson Square Ventures also participated in this round.
“The CRE industry is evolving, and market players, especially younger, digitally native generations are seeking out platforms that provide free and open access to information,” said Gavin Myers, general partner at Prudence Holdings.
He added, “CREXi directly addresses this market need, providing fair access to a range of CRE information. As CREXi continues to build out its stable of services, features, and functionality, we’re thrilled to partner with them and support the company’s continued momentum.”
The Series B funding will be used to support Crexi’s mission, enabling CREXi to grow its core business of broker services across the sales, leasing and auction functions, and fueling the refinement and expansion of buyer and tenant resources such as comparables and market intelligence.
“We are ecstatic to close this round of funding which will propel our growth and support our mission to streamline and digitize every aspect of the CRE industry,” said Mike DeGiorgio, founder and CEO of CREXi. “MEC, Industry Ventures, and Prudence Holdings are powerhouse investors who share our vision of modernizing commercial real estate sales, lease, data and insights for the benefit of all parties involved.”
Launched in 2015, CREXi integrates the sales and leasing marketplace with a suite of marketing, analytics, and deal management tools. This CRE ecosystem was designed to assist brokers, buyers, and tenants via bypassing tedious processes, enhancing access to properties, and enabling deals to close faster.
Since CREXi’s Series A announcement in 2018, the company has added more than 300,000 properties available for sale or lease. Simultaneously, it has grown its user base to six million through increased added value to its free and paid platforms. The company’s core business has seen consistent growth with services expanding to include data and analytics features, as well as elite marketing and auctions products to fully service all facets of the CRE industry.
This additional financing brings the company’s total funding to $55 million to date.
Pictured: Mike DeGeorgio.
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