Real estate developer Mitsubishi Estate Company (MEC) has co-led a $30m series B round for US-based real estate data provider Crexi that was disclosed on Friday.
The round was co-led with investment firms Industry Ventures and Prudence Holdings and also featured venture capital fund Lerer Hippeau and VC firm Jackson Square Ventures.
Also known as Commercial Real Estate Exchange Inc, Crexi operates an online real estate data marketplace and transaction marketplace. The funding will go to the expansion of the company’s buyer and tenant tools in addition to its broker services.
Mike DeGiorgio, Crexi’s founder and chief executive, said: “We are ecstatic to close this round of funding which will propel our growth and support our mission to streamline and digitise every aspect of the CRE industry.
“MEC, Industry Ventures and Prudence Holdings are powerhouse investors who share our vision of modernising commercial real estate sales, lease, data and insights for the benefit of all parties involved.”
The round brought Crexi’s overall funding to $55m, it said. Lerer Hippeau joined Freestyle Capital, TenOneTen Ventures, Founder Collective, Karlin Ventures and Leon Capital Group to provide it with $4.3m in seed capital in 2016.
Jackson Square Ventures led the company’s $11m series A round in mid-2018, investing alongside Lerer Hippeau, Freestyle Capital, TenOneTen Ventures and Manifest Investment Partners to take the company’s total funding to $24m.
