InsurTech company Groundbreaker has raised a $2m funding round led by Andrew Bluhm, son of real estate tycoon Neil Bluhm who owns Rivers Casino, Walton Street Capital and marquee Chicago properties.
Despite having bootstrapped the business since 2015, Groundbreaker still supports $3bn in assets under management and thousands of individual investors.
“This funding will allow Groundbreaker to invest more in our product and on customer growth,” said, Jake Murmulstein (pictured), CEO and founder of Groundbreaker. “Having been in the shoes of real estate investment professionals, and received years of customer feedback, we developed our application with the voice of every stakeholder – from investor relations to controllers, capital markets professionals, and high net worth investors.”
Groundbreaker solution streamlines investment management, fundraising, and investor relations for real estate investment firms that raise capital from individuals. Marmulstein revealed that it plans to use money to keep developing the product. “We want to be the easiest to get started on, the easiest to explain, and the easiest to maintain and use,” he said.
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