Real estate technology company Juniper Square has netted $6m in its Series A round led by Felicis Ventures.
Other participants to the investment were unnamed strategic investors in the real estate sector.
Founded in 2014, the company helps investment managers to automate fundraising, investment administration, and investor reporting. The San Francisco-based company helps all sizes of asset managers to improve their processes through its management tools but also compliance support.
Over the past year, the company has quadrupled both revenue and assets managed on the platform, according to the company. The platform now services around 50,000 investors, manages over 3,000 investments and tracks $200bn in real estate assets.
Juniper plans to use the funds to accelerate product development and expand its team to support the growing customer base.
Felicis Ventures managing director Sundeep Peechu said, “Commercial real estate is a multi-trillion-dollar industry with over 30,000 investment firms, yet very few of them use software to run their investment operations. We saw in Juniper Square a company with a big vision for a future of investments powered by software, that was growing exceptionally quickly, with customers who couldn’t stop raving about the product.”
With this new capital injection, Juniper’s total funding efforts have reached $8m.
Last year, Felicis contributed to the $22m Series B investment in to debt collection platform True Accord. The company, which helps to reconcile online debt through machine learning, raised the capital to boost innovation and staff numbers.
The North American real estate tech sector has seen a steady level of investment but a decline in deal volume, with $1.3bn deployed across 47 transactions. This is compared to 2016, which also saw $1.3bn deployed, but through 81 deals.
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