MARINA DEL REY, Calif., May 21, 2018 /PRNewswire/ -- CREXi, the commercial real estate industry's fastest growing marketplace and technology platform, today announced an $11 million Series A financing. The round was led by Jackson Square Ventures. Other investors in the round included Manifest Investment Partners, Lerer Hippeau Ventures, Freestyle Capital, and TenOneTen Ventures, among others. This latest financing brings CREXi's total funding to $24 million. The capital will be deployed to expand CREXi's sales and marketing initiatives, grow the team, and continue to build the best-in-class product for the commercial real estate industry.
"What the CREXi team has built to address the inefficiencies in the trillion-dollar commercial real estate industry is nothing short of remarkable," said Josh Breinlinger, managing director, Jackson Square Ventures. "For a market that's notoriously reluctant to embrace technology, we're excited to see such strong levels of adoption and engagement among relevant stakeholders. We're thrilled to partner with CREXi to take the marketplace to the next level."
Since launching in 2016, CREXi has quickly become one of the most active marketplaces in the industry, and the platform has helped buyers, sellers, and brokers to transact business on over 90,000 commercial listings totaling more than $450 billion in property value. CREXi's user base has grown more than 230% in the last year.
"We are passionate about helping commercial real estate professionals focus on what they do best," said Michael DeGiorgio, Chief Executive Officer at CREXi. "We listen closely to our customers and build around the belief that technology should make them more productive."
Over the last two years, CREXi has brought innovations to the commercial real estate industry that have enabled its users to automate their marketing, access critical insights in real-time and move between desktops and mobile devices seamlessly. "CREXi has meaningfully contributed to our business by exposing our deal inventory to a wider buyer pool and by helping our large team manage their workflow. CREXi adds speed, efficiency, and liquidity to the real estate transaction. CREXi has allowed us to focus our time and resources on winning and serving our clients," said Glen Kunofsky Executive Managing Director, Marcus and Millichap.
Commercial Real Estate Exchange, Inc. (CREXi) is the commercial real estate industry's fastest growing marketplace and technology platform dedicated to supporting the CRE industry and its stakeholders. CREXi enables commercial real estate professionals to quickly streamline, manage, and grow their businesses using the industry's most advanced transaction management solution. Since launching in 2016, CREXi has quickly become the most active marketplace in the industry, and the platform has helped buyers, sellers, and brokers to transact business on over 90,000 commercial listings totaling more than $450 billion in property value. CREXi has grown to 50+ employees and is headquartered in Marina Del Rey, California. For more information on CREXi, visit www.crexi.com.
About Jackson Square Ventures
Jackson Square Ventures is a early stage venture capital firm with $245 million under management. Founded in 2011, the San Francisco-based firm primarily leads Series A investments in companies with a B2B SaaS or marketplace focus. Its portfolio includes AlienVault, Alto Pharmacy, DocuSign, OfferUp, Intacct, Seismic, Strava, and Upwork, among others. For more information, follow the firm on Twitter or visit www.jsv.com.