Newmark Knight Frank Leads $9.5 Million Series B Funding Round for Workframe, Inc.
Workflow Solution for Commercial Real Estate Professionals Poised to Continue Market Penetration
May 17, 2018, 08:00 ET
NEW YORK, May 17, 2018 /PRNewswire/ -- Workframe, the only collaboration and communication platform purpose-built for commercial real estate (CRE) professionals, today announced that it has raised $9.5 million in Series B funding. The round was led by CRE advisory firm Newmark Knight Frank (NKF), which will be rolling out Workframe across its service lines nationwide. The financing also included participation from the venture capital arm of real estate technology firm MetaProp, as well as Venrock, a renowned venture capital firm and repeat Workframe investor.
Workframe was founded by entrepreneurs Robert Moore, Andy Parsons and Matthew Smith, who grew frustrated with the process of building out and operating the office spaces of their earlier ventures and vowed to create a solution. The trio developed Workframe, a web-based software application that provides a portfolio-level view of initiatives, giving large corporate tenants, landlords, brokers and service providers unprecedented visibility into their workflow, and presenting them with actionable data that can be leveraged to drive efficiency and cost savings.
"NKF's strategic investment will enable us to grow our team and realize our product vision," said Moore, Workframe's CEO. "As one of the largest and most forward-thinking real estate advisory firms in the world, NKF's backing speaks volumes about the value of our solution. Our partnership represents a significant step toward becoming the singular workflow and collaboration solution for the entire commercial real estate industry."
"We're always seeking compelling technology solutions that can enhance our productivity and efficiency, and have never encountered a solution with as much potential to transform the industry as Workframe's," said Barry Gosin, Newmark Knight Frank's CEO. "The Workframe platform will enable us to deliver better service to our clients by accelerating project timelines and simplifying the leasing process for tenants and landlords alike."
Added Aaron Block, Co-Founder & Managing Director of MetaProp: "As a VC focused exclusively on real estate technology, we've backed dozens of CRE tech startups, but few of them address common challenges as deftly as Workframe. The platform's ability to create measurable efficiency across the universe of real estate projects will secure Workframe's place as a leader in the PropTech space."
To complement the founders' technology pedigree, the company has rounded out its leadership team with senior CRE industry professionals from brokerage, project management and architectural backgrounds.
Dan Suozzi, Workframe's Chief Revenue Officer, said: "As a former Director of Real Estate and tenant-rep broker, I have direct experience with the challenges we are trying to overcome. Our solution will transform the way that real estate professionals work, and I'm thrilled to be a part of this incredibly talented team."
Workframe is the only workflow solution designed specifically for the commercial real estate industry. The company offers a web-based software application that provides a portfolio-level view of initiatives, giving large corporate tenants, landlords, brokers and service providers unprecedented visibility into their workflow and actionable data that can be leveraged to drive efficiency and cost savings. Founded by a team of highly experienced entrepreneurs, Workframe currently counts several leading multi-national companies among its growing customer roster. For more information, visit https://workframe.com or follow Workframe on Twitter @WorkframeHQ.
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