SquareFoot, a NYC-based commercial real estate company, raised $16m in Series B funding.
The round, which brought total funding to more than $29m, was led by DRW VC, with participation from existing investors Triangle Peak Partners, RRE, Rosecliff, and senior real estate executives.
The company intends to use the funds to continue to expand operations and its business reach.
Led by Jonathan Wasserstrum, CEO and co-founder, SquareFoot is an online commercial real estate platform for companies finding their next office, providing access to inventory, brokerage services, and a flexible space offering. It has helped execute over 1,200 leases to date.
Earlier this year, SquareFoot acquired PivotDesk, an office-sharing marketplace that pairs hosts with guests for unused office space. Then, in June, it introduced FLEX, a solution for companies seeking flexibility on lease terms.