Total amount raised
$67.9 Millions
Latest funding date
10/1/2022
Location
CrowdStreet has successfully raised significant funding through multiple rounds, attracting notable investors such as Rally Ventures and TIAA. The platform offers direct access to private market investing, specifically in commercial real estate, connecting investors with a broad range of institutional-quality assets.
Keep reading to explore the intricacies of CrowdStreet's fundraising journey and the investors backing this innovative platform.
What Is CrowdStreet?
CrowdStreet, founded on March 1, 2013, in Austin, Texas, is a leading platform for online commercial real estate investment offerings and technology. The company connects investors with commercial real estate (CRE) firms, providing direct access to a broad range of institutional-quality assets.
The founders of CrowdStreet are Darren Powderly, Michael Taus, and Tore C. Steen. They have built a platform that offers various services, including investment advisory, brokerage services, and an investor dashboard, to help investors diversify their portfolios.
With a team of 101-250 employees, CrowdStreet leverages a nationwide network of real estate operators to identify and curate investment opportunities. The platform has attracted over 100,000 investors, making it a significant player in the private market investing space.
How Much Funding Has CrowdStreet Raised?
- Seed Round
- Amount Raised: $1.4M
- Date: September 2014
- Lead Investors: Green Visor Capital, Seven Peaks Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch the platform and begin connecting investors with commercial real estate opportunities.
- Series A
- Amount Raised: $3.5M
- Date: March 2016
- Lead Investors: Rally Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and grow the user base.
- Series B
- Amount Raised: $8M
- Date: July 2018
- Lead Investors: Grotech Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and scale operations.
- Series C
- Amount Raised: $12M
- Date: November 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand market reach.
- Series C
- Amount Raised: $43M
- Date: October 2022
- Lead Investors: Cypress Equities, Foulger-Pratt, The Dinerstein Companies, TIAA
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop new products and expand into the wealth management sector.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: October 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and growth initiatives.
Total Amount Raised: $67.9M. Current Valuation: Not publicly disclosed.
Key Investors
- Rally Ventures
- Details: Rally Ventures is a venture capital firm that invests in early-stage technology companies. They focus on providing not just capital but also strategic guidance to help startups grow.
- Investment Focus Areas: Technology, SaaS, Enterprise Software
- Notable Investments: Okta, Coupa, PagerDuty
- TIAA
- Details: TIAA is a Fortune 100 financial services organization that provides investment and insurance services. They are known for their focus on retirement services and asset management.
- Investment Focus Areas: Financial Services, Real Estate, Asset Management
- Notable Investments: Nuveen, EverBank, Westchester Group
- Grotech Ventures
- Details: Grotech Ventures is a venture capital firm that invests in early-stage technology companies. They have a long history of successful investments in high-growth sectors.
- Investment Focus Areas: Technology, Healthcare, Consumer Internet
- Notable Investments: LivingSocial, LogRhythm, Optoro
- Green Visor Capital
- Details: Green Visor Capital is a venture capital firm that focuses on fintech startups. They aim to support companies that are innovating in the financial services industry.
- Investment Focus Areas: Fintech, Financial Services, Technology
- Notable Investments: Plaid, NerdWallet, Addepar
- Seven Peaks Ventures
- Details: Seven Peaks Ventures is a venture capital firm that invests in early-stage technology companies. They focus on providing both capital and mentorship to help startups succeed.
- Investment Focus Areas: Technology, Healthcare, Enterprise Software
- Notable Investments: SheerID, Rigado, CrowdStreet
What's Next for CrowdStreet?
With $43 million in new funding, CrowdStreet is poised to enhance its platform and expand into wealth management. This move opens up significant opportunities, allowing financial advisors to offer commercial real estate investments to their clients. The potential for growth is substantial, given the increasing interest in real estate crowdfunding and the company's track record of raising over $3.6 billion from individual investors.
Future fundraising efforts are likely as CrowdStreet continues to innovate and expand its product offerings. However, the company will need to navigate challenges such as economic uncertainty, regulatory hurdles, and competition from other platforms. Maintaining technological leadership and delivering consistent returns will be crucial for sustaining investor confidence and driving future growth.
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