CrowdStreet, Inc., a Portland, Ore.-based online marketplace for direct equity investment in commercial real estate (CRE), raised $12m in Series C funding.
Backers included its community of individual investors and commercial real estate sponsors, as well as Grotech Ventures, Rally Ventures, Seven Peaks Ventures, Green Visor Capital, and Carol Kruse.
The company, which leveraged its own platform to facilitate the fundraising and investing process, intends to use the funds to expand operations.
Led by Tore Steen, CEO, CrowdStreet operates an online commercial real estate investment marketplace that gives accredited investors access to institutional-quality offerings. The technology allows sponsors to raise capital through online fundraising and manage their investors, both on the Marketplace and with a SaaS solution.
The company is on track to raise over $500 million in real estate investment capital through its Marketplace for 2019 alone, which is more investment volume than the company conducted in its first five years combined.
Since its inception, it has seen more than $80 million in cumulative distributions to thousands of investors spanning almost every state.