Cecilian Partners – a leading proptech firm providing end-to-end digital solutions for home builders and land developers – recently announced that it has raised $11 million in its first institutional equity round led by Resolve Growth Partners. And Cecilian plans to use the growth funding to accelerate product innovation, expand headcount in critical areas, and continue developing the industry’s most client-centric customer success team.
The funding round comes despite a long slump in early-stage funding, with the second quarter of this year seeing the lowest quarterly total investment in North American firms in more than three years. And after examining hundreds of SaaS companies and conducting rigorous due diligence, Resolve chose Cecilian Partners based on Cecilian’s explosive revenue growth, proven business model, and straightforward path to profitability.
Since being founded in 2019, Cecilian Partners has focused on new homes, the fastest-growing segment in residential real estate. And the firm’s unique software suite digitizes the entire land and property development process – consolidating data, automating manual processes, and delivering a better customer experience across the homebuying journey.
Cecilian tripled its revenue last year, far outpacing the typical growth rate for early-stage SaaS companies, while the client base grew 65%. The company now has a national footprint of builders and developers across multiple states, including more than 75 clients in Texas and Florida alone, where nearly a third of all new homes in the US are built.
Cecilian will be increasing the pace of product innovation and talent acquisition while utilizing Resolve’s financial acumen and SaaS company-building expertise to accelerate growth. And this strategy includes restructuring the company’s Board of Directors and investing in four critical business areas.
Resolve co-founder Chris Rhodes and principal Rocco Natalicchio will join the board, bringing deep leadership and investment experience in vertically integrated SaaS markets. And two current members will continue to serve: Stephanie McCarty, Chief Marketing & Communications Officer at Taylor Morrison, and Ned Moore, co-founder and CEO of Clutch. Plus, McCarty is a leading brand and marketing expert in real estate development, and Moore is a SaaS expert with a successful track record as a serial entrepreneur.
Resolve’s investment enables Cecilian to rapidly expand its team, enabling key roles and functions to support four growth drivers: business development, in-house technology and R&D, customer success and marketing. And adding to an already outstanding team, the new hires will help capture new opportunities for growth and innovation, enhance client support and increase brand visibility across the country.
Cecilian plans to increase its employee count by 50% over the next 12-15 months, growing its head count in Chicago; Dallas, Texas; Raleigh, N.C.; and company headquarters in New Hope, Pa.
“Being an entrepreneur is difficult. Growing the firm out of the basement of my house four years ago to thriving and growing in this current market is thrilling ¾ and receiving that term sheet from Resolve Growth Partners was a moment of validation and excitement for me and my team. This investment transitions us from a ‘scrappy start-up’ to a focused organization positioned to win. We are grateful to the team at Resolve and ready to accomplish meaningful growth and customer expansion.”
— Cecilian Partners co-founder and CEO John Cecilian, Jr.
“We’re thrilled to have the opportunity to partner with John and the rest of the team at Cecilian Partners to build the category-leading platform for land developers and home builders. This market has traditionally been underserved by technology. Cecilian offers a first-of-its-kind solution to help its customers transform their businesses through digitization and a true partnership approach.”
— Resolve co-founder and Managing Partner Chris Rhodes
“New home construction is an industry so ripe for innovation. And while this industry has stubbornly resisted innovation and new technology, I believe much of that thinking is behind us. Cecilian Partners, with their expansive suite of products, is poised to step in and solve many archaic processes and longstanding pain points that exist today and, in turn, provide a better, more positive experience for customers, builders and developers.”
— Stephanie McCarty, Chief Marketing & Communications Officer at Taylor Morrison