Hightower, the US-based owner of a leasing management platform for commercial real estate, revealed yesterday it has received an undisclosed amount of funding from commercial real estate services firm Newmark Grubb Knight Frank.
The firm was joined by Bill Rudin, CEO of commercial and residential real estate company Rudin Management; Aaron Levie, chief executive of cloud collaboration service Box; and Barry Sternlicht, CEO of investment firm Starwood Capital.
Founded in 2013, Hightower operates a leasing management platform that facilitates the renting of commercial property for both brokers and owners. It did not directly disclose how much capital the investors committed, but revealed it has now raised $22m in total.
The amount is approximately the same as the $21.6m it had publicly raised, suggesting the investors may in fact be the previously unnamed strategic backers TechCrunch reported had taken part in Hightower’s $13m series B round in May 2015.
The series B round was led by RRE Ventures and featured Bessemer Venture Partners, Thrive Capital, and Pritzker Group Venture Capital. Thrive and Bessemer previously co-led a $6.5m series A round for Hightower in August 2014 that included RRE, Red Swan Ventures and assorted angel investors.
Thrive and Bessemer also led a $2.1m seed round in 2013 that was also backed by RRE, Red Swan and various angel investors.