Dealpath, the US-based creator of a deal management platform for property investments, launched yesterday with $8m of series A capital from backers including construction firm Bechtel.
Real estate investment holding companies LeFrak and Milstein were also among the series A investors, as were venture capital firm Formation8, which led the round, and VC funds Goldcrest Capital and Deep Fork Capital.
Founded in 2014, Dealpath has developed software that enables commercial real estate (CRE) investment and development teams to track, manage and collaborate on property deals from a single, searchable platform.
Michael Sroka, CEO of Dealpath, said: “Multi-billion dollar institutional portfolios and deals that can be measured in the tens and hundreds of millions of dollars should not be conducted in Word document checklists and Excel spreadsheets that are emailed back and forth.
“At Dealpath we have made it our mission to provide CRE deal teams with the tools, resources and information they need to create and capture value.”