PropTech PLACE already hits unicorn status after closing its Series A

PLACE, which claims to be the real estate industry’s only all-in-one technology and business services platform, has collected $100m in Series A funding and reached a $1bn valuation.

Goldman Sachs Asset Management led the investment, with commitments also coming from 3L Capital.

With the capital injection, the PropTech company hopes to further the expansion of its products and services, accelerate the onboarding of thousands of top real estate teams and support the development of its technology. Funds will also be used to hire more staff.

PLACE offers an end-to-end suite of software solutions and business services that include administrative support, marketing and branding, lead generation, accounting, legal, human resources, back-office infrastructure and training.

It currently supports agents and teams from a variety of brokerage brands operating in over 100 unique markets across the US and Canada.

PLACE co-founder Ben Kinney said, “The top 20% of agents in any market serve the vast majority of consumers that need to buy, sell, or invest in real estate.

“Those top agents are our customers. We help them solve the problems that are holding their businesses back: finding and hiring talent, retaining their top producers, implementing technology and systems, increasing per-agent productivity, and driving business growth and profitability.”

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