Honest Buildings, a US-based project management platform built for real estate owners, has extended its series B round to $30m following a $5m investment from urban property developer First Capital Realty.
Founded in 2012, Honest Buildings has created a data-driven platform for managing real estate assets. Features include document sharing, invoice processing and cost tracking.
The company previously increased its series B round to $24.5m when real estate manager QuadReal and real estate consultancy Altus Group provided $3.5m in April 2018.
Real estate investment and management group Oxford Properties previously led an $8m extension in February 2018 that also featured property developers DivcoWest Real Estate Investments and Durst Organization.
The round’s first close occurred in October 2017, when Honest Buildings raised $13m from real estate management firms Brookfield Property Partners, Rudin Management, C-III Capital Partners and Circle Ventures, the venture capital arm of property developer Milstein Properties.
The first close also featured Navitas Capital, Greensoil Building Innovation Fund, Bienville Capital Management, Riverpark Funds, Westly Group, Rockport Capital and Thrive Capital.
Honest Buildings has raised $48m to date. Circle Ventures previously led a $5m series A2 round in 2015 that included Thrive, Westly and Rockport. Thrive had led a $4m series A1 round in 2013, with contributions from Westly and Rockport.
Jordan Robins, executive vice-president and chief operating officer of First Capital, said: “Leveraging technology platforms like Honest Buildings provides greater transparency, positioning us to create value through project cost savings and faster project delivery.”