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New York & Tri-State  + Midtown New York  + Finance  |  January 17, 2022
Scaffolding alternative Urban Umbrella, with 100 installations across New York City, has raised $6.5 million in venture debt
Paul Bubny
By: Paul Bubny

Urban Umbrella Completes Venture Debt Funding Round

Scaffolding alternative Urban Umbrella has raised $6.5 million in venture debt. The round was led by New York-based Anthos Properties, a commercial and residential real estate developer and property management company. 

Paul Anagnostopoulos, Anthos principal and director of acquisitions, and Billy Gilbane of Gilbane Building Company have joined Urban Umbrella’s advisory board. Over a dozen past investors, mainly New York City-based real estate owners and developers, also participated in the round. 

With the completion of this funding round, Urban Umbrella has raised a total of $26 million in debt and equity. As of December 2021, the company’s scaffolding was installed at 100 sites citywide. 

Urban Umbrella will use a portion of its new capital to expand its new modular structure division, Canopies. It also plans to use the new funds to make key hires in early 2022 and to grow its geographic footprint in markets like Boston, Connecticut, and Chicago. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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