Total amount raised
$54 Millions
Latest funding date
Location
Crexi has successfully raised significant funding over multiple rounds, establishing itself as a key player in the commercial real estate industry. The platform offers a comprehensive suite of tools designed to streamline transactions for brokers, investors, and tenants.
Keep reading to explore the intricacies of Crexi's fundraising journey and the investors backing this innovative platform.
What Is Crexi?
Founded in 2015, Crexi is a technology solution based in Los Angeles, California, that consolidates commercial real estate tools into a single platform for brokers, investors, and tenants. The company was established by Ben Widhelm, Erek Benz, Luke Morris, and Michael DeGiorgio.
Crexi's platform offers a range of services, including market analysis, property evaluation, demographic data access, broker tools, auction services, and lead management. These tools help commercial real estate professionals streamline, manage, and grow their businesses, ultimately closing deals faster.
With a team of 251-500 employees, Crexi continues to innovate and expand its offerings, solidifying its position as a key player in the commercial real estate industry.
How Much Funding Has Crexi Raised?
- Seed Round
- Amount Raised: $4.3M
- Date: February 2016
- Lead Investors: TenOneTen Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build the initial platform and start operations.
- Seed Round
- Amount Raised: $8.7M
- Date: May 2017
- Lead Investors: TenOneTen Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and grow the user base.
- Series A
- Amount Raised: $11M
- Date: May 2018
- Lead Investors: Jackson Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform and increase market penetration.
- Series B
- Amount Raised: $30M
- Date: January 2020
- Lead Investors: Industry Ventures, Mitsubishi Estate, Prudence
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To deepen platform functionality and expand product and engineering teams.
- Series C
- Amount Raised: Not publicly disclosed
- Date: May 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance market presence.
- Convertible Note
- Amount Raised: Not publicly disclosed
- Date: April 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional capital for strategic initiatives.
Total Amount Raised: $54M
Current Valuation: Not publicly disclosed
Key Investors
- Mitsubishi Estate Co. Ltd.
- Details: Mitsubishi Estate Co. Ltd. is a leading real estate company based in Japan, involved in property development, management, and investment. It is part of the Mitsubishi Group, one of Japan's largest conglomerates.
- Investment Focus Areas: Real estate development, property management, investment.
- Notable Investments: Not publicly disclosed.
- Industry Ventures
- Details: Industry Ventures is a venture capital firm that focuses on secondary investments and direct co-investments in technology companies. The firm is known for its strategic approach to investing in high-growth sectors.
- Investment Focus Areas: Technology, secondary investments, direct co-investments.
- Notable Investments: Not publicly disclosed.
- Prudence Holdings
- Details: Prudence Holdings is an investment firm that focuses on growth-stage companies across various sectors. The firm aims to support companies with high growth potential.
- Investment Focus Areas: Growth-stage companies, technology, real estate.
- Notable Investments: Not publicly disclosed.
- Lerer Hippeau Ventures
- Details: Lerer Hippeau Ventures is a New York-based venture capital firm that invests in early-stage technology companies. The firm has a strong track record of supporting innovative startups.
- Investment Focus Areas: Early-stage technology, startups, innovation.
- Notable Investments: Not publicly disclosed.
- Jackson Square Ventures
- Details: Jackson Square Ventures is a venture capital firm that invests in early-stage software companies. The firm focuses on companies that have the potential to become market leaders.
- Investment Focus Areas: Early-stage software, technology, market leaders.
- Notable Investments: Not publicly disclosed.
What's Next for Crexi?
Crexi stands at the cusp of significant growth opportunities, driven by the increasing digital transformation in the commercial real estate industry. With a user base of 6 million and over 300,000 properties listed, the platform is poised to leverage artificial intelligence and machine learning to enhance its offerings. The potential for international expansion further amplifies the scope of its market reach.
Future fundraising efforts are likely to focus on scaling operations and integrating advanced technologies. However, Crexi will need to navigate challenges such as competition from other real estate tech platforms and the complexities of international market regulations. Despite these hurdles, the company's robust growth trajectory and innovative approach position it well for continued success.
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