The Commercial Real Estate (CRE) exchange platform CREXi has secured $11 million in funding in a Series A round to bring their total funding to $24 million and solidify their position as the market leader in helping CRE professionals to streamline, manage, and grow their businesses through its advanced transaction management solution.
“What the CREXi team has built to address the inefficiencies in the trillion-dollar commercial real estate industry is nothing short of remarkable,” said Josh Breinlinger, managing director of Jackson Square Ventures firm who leads the funding. “For a market that’s notoriously reluctant to embrace technology, we’re excited to see such strong levels of adoption and engagement among relevant stakeholders. We’re thrilled to partner with CREXi to take the marketplace to the next level,” said Mr. Breinlinger in the official statement of the round announcement.
Other investors in the round were Manifest Investment Partners, Lerer Hippeau Ventures, Freestyle Capital, and TenOneTen Ventures, among others.
With more than 50 employees, CREXi has helped, since launching in 2016, buyers, sellers, and brokers to transact business on over 90,000 commercial listings totaling more than $450 billion in property value.
According to the Marina del Reay-based company, their user base has grown more than 230% in the last year.
“We listen closely to our customers and build around the belief that technology should make them more productive,” said Michael DeGiorgio, Chief Executive Officer at CREXi, who detailed that the capital will be used to expand CREXi’s sales and marketing initiatives, grow their team and refine their product.
