Realty Mogul has raised a $9 million Series A round led by Canaan Partners. This news comes on the heels of an announcement that Realty Mogul has funded properties totaling $100 million in value.
“Our goal is to bring the $11 trillion commercial real estate market into the 21st century,” said Jilliene Helman, CEO and co-founder of Realty Mogul. “Canaan’s backing will help us to enable thousands of investors to have an easy, transparent way to diversify their portfolio into commercial real estate by crowdfunding opportunities previously only available to a select few.”
“Realty Mogul will be the next disruption in a massive asset class just like LendingClub has been for the consumer credit market,” said Hrach Simonian, principal at Canaan Partners and Realty Mogul board member.
Realty Mogul is active in 14 states. 58 properties have garnered $14.6 million of investment. Based on the total number of properties, number of states and volume of capital placed by the company, Realty Mogul touts itself as the largest commercial real estate crowdfunding marketplace online today.
It isn’t Canaan’s only foray into the wider crowdfunding space. The firm also has a stake in peer lending platform Orchard.