RealtyShares announced on Thursday it raised $28 million during its Series C funding round, which included participation from Cross Creek Advisors, Danhua Capital, Barry Sternlicht (Founder of Starwood Capital and Starwood Resorts) and Bow Capital, along with prior investors Union Square Ventures, General Catalyst Partners, and Menlo Ventures.
The real estate marketplace platform claimed it has emerged as one of the industry’s most diverse real estate investment platform, deploying $500 million across more than 1,000 real estate opportunities in 39 states, as of this summer. The portal has more than 120,000 registered users and has a growing list of institutional partners. Now, RealtyShares stated it is bringing its technical excellence to bear on scaling full capital stack commercial solutions, with over $242 million deployed across more than 120 commercial debt and equity projects in the last year alone. RealtyShares Founder and CEO, Nav Athwal, revealed:
“In a few short years we’ve developed a thriving marketplace, giving developers a fast and flexible capital source, while offering individual and institutional investors unprecedented access to high quality investments. Middle-market commercial real estate comprises the majority of commercial real estate transactions, but it’s one of the last frontiers to be disrupted by technology. The new partners we’re bringing on in this round have significant experience transforming old industries, and can help us deepen our focus on the severely underserved commercial financing market.”
RealtyShares also noted that the investment brings the pioneering startup’s total capital raised to-date to $60 million and adds (among others) four new investors. Cross Creek Advisors Managing Director Tyler Christenson, added:
“We have watched data and technology transform a broad range of industries, and RealtyShares is reinventing the way in which real estate investments are traditionally made. In our diligence, we identified RealtyShares as a leading disrupter in virtualizing real estate transactions into a democratized marketplace.”