CREXi, a Los Angeles, CA-based commercial real estate industry’s marketplace, data, and technology platform, raised $30m in Series B funding.
The round was led by Mitsubishi Estate Company, Industry Ventures, and Prudence Holdings. Existing investors Lerer Hippeau Ventures, and Jackson Square Ventures also joined this round.
The company intends to use the funds to grow its core business of broker services across the sales, leasing, and auction functions, and accelerate the refinement and expansion of buyer and tenant resources such as comparables and market intelligence.
Led by Mike DeGiorgio, founder and CEO, CREXi aims to simplify the CRE process by integrating the sales and leasing marketplace with a suite of marketing, analytics, and deal management tools. This CRE ecosystem was designed to assist brokers, buyers, and tenants, eliminating processes, enhancing access to properties, and enabling deals to close faster. With six million users, the platform has enabled buyers, sellers, and brokers to transact business on over 300,000 commercial listings totaling more than $1trillion in property value.
The company has 125+ employees.