Leasecake Raises $12 Million to Fuel Commercial Real Estate Platform’s Expansion Into New Markets
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Sequence A Round Led by PeakSpan Funds Will Fund Investments in New System Abilities and Geographies
ORLANDO, Fla., April 25, 2022–(Business enterprise WIRE)–Leasecake, the cloud-dependent functioning method for lease and place administration, introduced currently that it elevated $12 million in an oversubscribed Collection A round led by PeakSpan Funds, a Silicon Valley and New York Town dependent financial investment agency concentrated on advancement-phase B2B application organizations. Las Olas Undertaking Capital and other existing traders participated in the round, together with new strategic investors together with Branded Strategic Hospitality.
Leasecake lets tenants, brokers and landlords to handle place-relevant providers, from lease management and lease accounting to insurance policies agreements and franchise functions. Leasecake’s system presents centralized obtain to lease and site information and facts, integrating information from multiple sources to serve as a solitary supply of truth of the matter for organizations on each sides of the current market.
The change to distant work all through the pandemic has accelerated need for business location management technological innovation. Leasecake’s earnings elevated fivefold in 2021 compared to the preceding 12 months, with buyers ranging from one-web page operators to enterprises handling far more than 1,000 places. The company designs to use the Sequence A funding to additional than double its headcount about the following 18 months, generate new system choices and expand more into Europe and Latin The usa.
“Above the earlier yr we expert considerable demand from customers from enterprises of all measurements leveraging our alternative to come to be additional economical, collaborative and nimble,” mentioned Taj Adhav, CEO and co-founder of Leasecake. “Our prospects immediately observed how our platform provides rapid responses for a sizeable aggressive gain, particularly when it will come to the most critical areas of their small business. The entire world is dashing up, and the upcoming of do the job suggests obtaining simple means to act on what matters. For our clients across the retail, place of work, and industrial sectors – the long term is now.”
Streamlining Functions for Efficiency and Collaboration
Leasecake’s technologies allows firms – together with private-fairness firms, franchisors and company tenants, brokers and landlords – streamline operations, comply with new lease accounting expectations, monitor mission-essential and time-delicate contracts, and collaborate much more effectively with provider providers. The obstacle with siloed legacy devices is that they are not intuitive and usually can not adapt to a cellular workforce. But with Leasecake, organizations of all measurements stay on leading of their locale portfolios – trying to keep tabs on lease and insurance policy renewals, monitoring basic safety inspections, and taking care of business enterprise licenses.
“Users on our platform signify each and every component of the true estate daily life cycle,” explained David Schrader, Chief Solution Officer of Leasecake. “The engineering lets them seamlessly collaborate and share info with serious estate brokers, CPA firms, loan companies, attorneys and insurance brokers – get-togethers supporting all aspects of a lease or get/sell transaction – so they can promptly move through thanks diligence, assembling accurate fiscal statements to close loans and do promotions speedier.”
Radiance Holdings, which owns natural beauty and wellness franchisors Sola Salon Studios and The Woodhouse Day Spa, offers Leasecake as a gain to support their franchisees and community salons control genuine-estate functions.
“As the nation’s quickest expanding Salon Studio franchisor, we desired a location management option to easily deploy method-large across our 600+ areas,” mentioned Nathan Jensen, Chief Monetary Officer of Radiance Holdings. “To maintain our marketplace leadership, we want to be nicely ahead of the digitization curve for our back business office. Making use of Leasecake has compensated off: the system is a powerful alternative to enable us scale and broaden our footprint nationwide with quick answers on mission-vital serious estate and place details – all in a collaborative, intuitive platform that supports our franchisees.”
Specialized Retail, the retail subsidiary of Specialized Bicycle Elements, takes advantage of Leasecake to control its quickly-escalating network of business-operated retailers. The program helps Specialized Retail’s modest workforce retain rate with enlargement – the community now consists of 60 locations – as they onboard dozens of new web sites. “Our infrastructure is still maturing, but Leasecake presents us the procedures we need to have to take care of immediate advancement,” claimed Peter Robson, Retail Operations Manager at Specialized Retail.
Leasecake’s Groundbreaking Platform
Phil Dur, Co-Founder and Running Husband or wife of PeakSpan Funds, mentioned Leasecake was an great in shape with the firm’s approach: partnering with entrepreneurs whose firms handle a big and strategic market place, with remarkable merchandise high-quality, a clear and intuitive benefit proposition, and a commitment to resilient value development.
“We feel Leasecake is a pioneer in bringing wide-based mostly area management excellence to tenants, landlords and brokers,” Dur claimed. “The option really shines when it comes to encouraging these constituent groups take care of many homes, supplying a prosperity of capabilities and ease-of-use that allow these stakeholders to collaborate on the Leasecake platform. We are so energized by the chance to lover with the Leasecake team in capitalizing on their remarkable progress to day and build the definitive site management leader in the market place.”
About Leasecake
Leasecake is the lease and location administration functioning method for private-equity corporations, franchisors, corporate tenants, brokers, and landlords. The intuitive SaaS system provides quick responses, proactive consciousness, and actionable intelligence for effortless collaboration across all mission-critical, time-delicate occasions, simplifying productivity throughout dispersed groups. As a future-of-work system, Leasecake’s shareability also supports provider suppliers, provides price for their clients, and will help corporations that lease or possess spots save time, limit chance, and superior control progress.
About PeakSpan Funds
PeakSpan Money is a advancement fairness organization based mostly in New York City and San Mateo. Getting partnered with abou
t 30 large-development software program companies and with much more than $1.5 billion in property less than administration, PeakSpan aims to be the companion of choice for growth-phase entrepreneurial groups constructing program targeted at business enterprise consumers of all measurements. To discover much more about PeakSpan Cash and its portfolio, be sure to check out: www.peakspancapital.com.
See supply model on businesswire.com: https://www.businesswire.com/information/dwelling/20220424005039/en/
Contacts
Lisa Seidenberg
Director of Media Relations, Greentarget
[email protected]
312-252-4108
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