Real estate crowdfunding platform CrowdStreet has completed a successful $3.5 million Series A round led by Rally Ventures. Additional participation came from Green Visor Capital, Seven Peaks Ventures and Portland Seed Fund.
The funds are earmarked toward partnership development, platform scaling and additional innovation.
Rally Ventures’ Jeff Hinck joins CrowdStreet’s board in the deal. He explains his interest in CrowdStreet.
“CrowdStreet is taking a comprehensive approach to creating a vibrant marketplace for commercial real estate investment that includes something others don’t have – the underlying SaaS technology that enables developers and operators to manage the relationship with investors across the entire lifetime of the investment.”
“The CrowdStreet solution has quickly gained traction in the market because of its ability to connect investors with high-quality investments that deliver strong ROI.”
CrowdStreet CEO Tore Steen said his company has seen strong growth early on.
“Our unique offering has attracted over 40 commercial real estate clients, with more than $1 billion in institutional-quality assets managed through the CrowdStreet platform. Our latest funding will enable us to accelerate our already impressive client growth and continue to release innovations to our platform that redefine real estate fundraising, lead nurturing, investor communications and distribution management for the digital age.”
CrowdStreet’s model delivers value even during market uncertainty, Co-Founder and Vice President of Business Development Darren Powderly said.
“Global markets continue experiencing distress and there is volatility in U.S. equities, yet the world’s most sophisticated investors are earning outsized returns with continued over allocation to direct real estate investments.”
“Bringing direct real estate investment to individuals, like we do at CrowdStreet, couldn’t come at a better time. We are pleased to be leading the next major wave in the evolution of online investing.”