Crowdfunding Firm Realty Mogul Raises $35M
Los Angeles-based Realty Mogul, a crowdfunding platform that launched about two years ago, recently raised $35 million in financing. The Series B funding came in place from Sorenson Capital, as well as Canaan Partners.
Funds will be used to bolster the firm’s technology and data science teams, according to executives. Realty Mogul has grown from 10 to 80 employees in the last year, and the firm has sold about 240 real estate assets totaling just over $500 million.
Executives at the firm say that there are more institutional investors making deals on its platform, resulting in larger loans.