Leasecake, an Orlando, Fla.-based cloud-based operating system for lease and location management, raised $12m in a Series A funding.
The round was led by PeakSpan Capital, with participation from Las Olas Venture Capital and other existing investors, along with new strategic investors including Branded Strategic Hospitality.
The company plans to use the funding to more than double its headcount over the next 18 months, create new platform offerings and expand further into Europe and Latin America.
Led by Taj Adhav, CEO and co-founder, and David Schrader, Chief Product Officer, Leasecake provides a SaaS platform that allows tenants, brokers and landlords to manage location-related services, from lease management and lease accounting to insurance agreements and franchise operations. The system provides centralized access to lease and location information, integrating data from multiple sources to serve as a single destination for organizations on both sides of the market.
The technology helps businesses – including private-equity firms, franchisors and corporate tenants, brokers and landlords – streamline operations, comply with new lease accounting standards, track contracts, and collaborate efficiently with service providers.
The company’s revenue increased fivefold in 2021 compared to the previous year, with customers ranging from single-site operators to businesses managing more than 1,000 locations.