- Investment management platform company Juniper Square announced it raised $75 million in Series C funding
Juniper Square — a market-leading investment management platform for commercial real estate — announced it has raised $75 million in Series C funding led by Redpoint Ventures with participation from Ribbit Capital, Felicis Ventures, and Zigg Capital. And Juniper Square’s mission is to bring more transparency and less friction to the $16 trillion commercial real estate market via software.
Customers that are managing the ownership of nearly $800 billion of real estate through Juniper Square’s software, representing nearly 5% of the total market capitalization of this massive asset class. And by automating investment workflows and centralizing vital transaction, investment, and investor information, Juniper Square enables transparency where blind trust used to suffice. Plus it migrates time spent by partners from managing data to using that data to grow and optimize return on investments.
With the influx of investment and adding to a $25 million Series B round of funding raised less than a year ago in 2018, Juniper Square is going to continue its growth while also transforming the nature of the commercial real estate industry, addressing pain points faced by both General and Limited Partners.
And the implications of one centralized industry system of record with data to enhance a wide range of functions, including operations, accounting, and investments will transform the way the industry operates.
“In an ideal world, commercial real estate could be traded with the information, trust, and ease available in public equity markets. The world’s second-biggest asset class deserves world-class technology for managing ownership, yet none exists,” said Juniper Square co-founder and CEO Alex Robinson. “With this latest round, Juniper Square is better able to seize the opportunity to change the status quo in a way that benefits both GPs and LPs in the commercial real estate ecosystem. Our vision is that one day, an institution or individual could invest in a share of a commercial building just like they would in a share of stock on the NYSE.”
Launched in 2014, Juniper Square developed its software as a private beta for two years in partnership with 12 “founding customers” in the commercial real estate industry. And those initial two years of product development resulted in software that integrates elements of the commercial real estate transaction and management workflow currently not managed by a single software tool ranging from accounting and payments to collecting and managing capital and reporting on performance.
This period also set the company up for success at launch with customers and revenue from day one and 94% of its customers performing some critical business function in Juniper Square, like calculating returns or issuing payments every week. Since launching, the company has seen 98% lifetime customer retention.
“At Redpoint, we look for visionary founders who can create new markets or redefine existing ones – and that’s Alex and Juniper Square,” added Redpoint Partner Elliot Geidt. “To succeed in commercial real estate, you need the trust of key players, and to win that trust, you need industry context, which Alex and his team have in droves to complement their software expertise.”