US-based property management software developer Honest Buildings has extended its series B round to $21m with an $8m tranche led by real estate investment and management group Oxford Properties.
Two more property developers, DivcoWest Real Estate Investments and Durst Organization, also took part, adding to the round’s $13m first close in October 2017.
Founded in 2012, Honest Buildings has built a data-driven software platform for managing real estate assets. It includes features such as document sharing, invoice processing and cost tracking.
The platform facilitated transactions for landlords worth $6.5bn through 2017, according to Honest Buildings, and the series B capital will support expansion in North America and further afield.
Additional proceeds will go to expanding the company’s product and business development units. Michael Turner, executive vice-president of Canada at Oxford Properties, will join Honest’s board of directors.
Honest Buildings has now raised a total of $39.4m in equity and $1.8 in debt financing, according to press releases and securities filings.
Circle Ventures led the company’s $5m series A2 round in 2015, which also featured Thrive Capital, Westly and RockPort Capital. It came after Thrive had led Honest’s $4m series A1 round in 2013, with contributions from Westly and RockPort.