This round of funding will allow us to scale our core operations servicing brokers, buyers and tenants, while investing in building out additional services, such as our data/analytics offerings and auctions platform, to service all aspects of Commercial Real Estate industry in a streamlined and simple platform, Mike DeGiorgio, founder and CEO of CREXi, tells GlobeSt.com. Each bid submitted in any Auction is a " Bid ". Seed Round - Crexi Crexi Seed $8,700,000 May 26, 2017 DeGiorgio said the funding would allow CREXi to deepen the functionality to take a really archaic process and bring efficiencies to it and make it much, much easier.. 11150 Santa Monica Boulevard, Suite 350 CREXi is also looking ahead. The company has both free and paid platforms with additional features. Creating a listing is straightforward and pretty quick to do. $503 million to invest in real estate technology. Updates on new releases, bug fixes, and product enhancements straight from the Crexi Product Team. Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. Crexi is simple to navigate and easy to see your listing activity. /PRNewswire/ -- Crexi, the commercial real estate (CRE) industry's fastest-growing marketplace, data, and technology platform, today announced the winners of. CREXis platform and services allow brokers, buyers, and tenants to conduct the whole CRE process online from listing to closing.[1]. CREXi was founded by Michael DeGiorgio along with co-founders Erek Benz, Luke Morris, and Ben Widhelm in 2015. CREXi has facilitated more than $200 billion in transactions since 2016, and currently houses more than 330,000 properties valued at over $1 trillion for sale or lease across the US. CompStak operates as a crowdsourced commercial real estate data platform. The latest conversations about Real Estate Join the conversation on | News The Series B commitment was led by Mitsubishi Estate Company, Industry Ventures, and Prudence Holdings. Lerer Hippeau invested in CREXi's Series B funding round. There are currently more than 6 million users on CREXis marketplace. Funds will support team expansion, product innovation, and fuel rapid growth. Since CREXi's Series A announcement in2018, the companyhas added over 300,000properties available for sale or lease while growing its user base to 6 million through increased added value to its free and paid platforms. Copyright 2023 CB Information Services, Inc. All rights reserved. Commercial real estate data startup CREXi is eyeing a future public offering as it staffs up while continuing to battle it out in court with industry juggernaut CoStar Group. Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business. The firms mission is to streamline and digitize every aspect of the [commercial real estate] industry., The CRE industry is evolving, and market players, especially younger, digitally native generations are seeking out platforms that provide free and open access to information, said Gavin Myers, general partner at Prudence Holdings, in an announcement. "CREXi directly addresses this market need, providing fair access to a range of CRE information. LOS ANGELES, Jan. 24, 2020 /PRNewswire/ Crexi, the commercial real estate (CRE) industry's fastest-growing marketplace, data, and technology platform, today announced a $30 million Series B funding round led by Mitsubishi Estate Company ("MEC"), Industry Ventures, and Prudence Holdings. CREXi,a digital marketplace and platform for buying, selling and leasing commercial real estate, announced a funding round this week worth $30 million. The list of its authors can be seen in its historicaland/or the page Edithistory:CREXi. Existing investors Lerer Hippeau Ventures, and Jackson Square Ventures also joined this round. Los Angeles-based fund to focus on core-plus opportunities across U.S. Sign In Now, Underwriting Assumptions Stabilize for Prime Multifamily Assets, WeWork, Rhone JV Defaults on San Francisco Office Tower, NY Fed: CRE Stress Will Prevent Full NYC Recovery, Multifamily Owners Squeezed as Values Drop 20%. Updates on new releases, bug fixes, and product enhancements straight from the Crexi Product Team. About CREXiCommercial Real Estate Exchange, Inc. (CREXi) is the commercial real estate industry's fastest-growing marketplace and technology platform dedicated to supporting the CRE industry and its stakeholders. Crexi directly addresses this market need, providing fair access to a range of CRE information. That will involve bolstering its finance teams and eventually staging mock earnings calls. LOS ANGELES, Jan. 24, 2020 /PRNewswire/ -- CREXi, the commercial real estate (CRE) industry's fastest-growing marketplace, data, and technology platform, today announced a $30 million Series B funding round led by Mitsubishi Estate Company ("MEC"), Industry Ventures, and Prudence Holdings. Real estate data and technology company CREXi has raised $30 million in its series B funding round. Commercial Real Estate Exchange, Inc. (CREXI) is the commercial real estate industry's fastest-growing marketplace, advanced technology and data platform dedicated to supporting the CRE industry and its stakeholders. Los Angeles, CA 90025 Existing investors Lerer Hippeau Ventures, and Jackson Square Ventures also joined this round. CREXi short for Commercial Real Estate Exchange is a Los Angeles, California-based online commercial real estate (CRE) marketplace and technology suite that consolidates the entire commercial real estate process into a unified ecosystem. The firm will start by focusing on building the for-lease platform to create a customized experience based on the for-sale side of the market. Zentra offers a combination of software, hardware, and services for smart property access. 323-549-5225, Los Angeles Business Journal | Website by Web Publisher PRO. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Founded in 2015, Crexi is a ventured-backed commercial real estate ("CRE") marketplace and technology platform dedicated to supporting the CRE industry and its stakeholders. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a part of the product launch, CREXi partnered with Clark County, Nevada, to conduct its first entirely-online CRE auction. At the time it filed the suit, CoStar CEO Andy Florance told Bisnow the case against CREXi was actually larger than the copyright infringement we had with Xceligent. That sordid legal saga ended with the rival declaring Chapter 7 bankruptcy and shutting down in 2017. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. All Rights Reserved. CREXi enables commercial real estate professionals to quickly streamline, manage, and grow their businesses using the industry's most advanced transaction management solution. CREXi provides a suite of technological tools to brokers and buyers to purchase, sell, or lease CRE properties online. The latest financing brings the companys total funding to $55 million, and will help grow CREXis core business of broker services, The company aims to simplify the technical processes of sales, leasing, and auctions for brokers, investors, buyers, and tenants. CREXi directly addresses this market need, providing fair access to a range of CRE information.. It has raised $55 million to date. | With six million users, the platform has helped buyers, sellers, and brokers to transact business on over 300,000 commercial listings totaling more than $1 trillion in property value. Date that the Funding Round was publicly announced, Type of Funding Round (e.g. "The CRE industry is evolving, and market players, especially younger, digitally native generations are seeking out platforms that provide free and open access to information," said Gavin Myers, General Partner at Prudence Holdings. You can read more about your. continues to grow throughout the country. Its new CFO, Tim Laehy, is a Silicon Valley veteran. CREXi's valuation in May 2018 was $38.57M. CREXi allows brokers and buyers to conduct everything digitally, from initial contact to due diligence documents to closing. In November, New York City-based proptech firm, And more recently, a California-based location data company called, The Rise in Multifamily Cap Rates Is Slowing, New Data Suggests. The Marina del Rey-based company aims to streamline all aspects of commercial real estate. CREXi did a Series A funding round in 2018. Crexi is a complete commercial real estate platform housing all the tools you need to transact - from listing and finding properties to closing on the perfect opportunity. Los Angeles-based CREXi has grown to employ more than 125 people since CEO Mike DeGiorgio launched it in 2016. The Series B funding will be used to support this mission, enabling Crexi to grow its core business of broker services across the sales, leasing, and auction functions, and fueling the refinement and expansion of buyer and tenant resources such as comparables and market intelligence. CREXi raised another $30 million in a Series B[5] funding round in January 2020, led by Mitsubishi Estate[6] and including other investors such as Prudence Holdings and Industry Ventures. Crexi is a technology solution that consolidates commercial real estate tools into a single platform for brokers, investors, and tenants. And a public company in the next three to five years. Seed Round - Crexi Crexi Seed $4,300,000 Feb 26, 2016 4. Follow her on Twitter @HannahMadans. Crexi is the commercial real estate industry's fastest-growing marketplace, data, and technology platform. Exclusive discounts on ALM and GlobeSt events. You can quickly filter today's Crexi promo codes in order to find exclusive or verified offers. Don't worry just two more months until 2020 is over. Mitsubishi Estate Co., Industry Ventures and Prudence Holdings led the funding round, along with existing investors Lerer Hippeau Ventures, and Jackson Square Ventures. Following up with buyers and brokers is simple. She was the chief legal officer at boutique wealth manager United Capital Financial Advisers, which Goldman Sach bought for $750 million in 2019. Since its launch in 2016, CREXi has grown to employ 122 employees and counting. The auction sold 11 land parcels for a total value of $63 million, meeting an average of 106.7% the reserve bid price on behalf of Clark County despite conservative reserve bids. This CRE ecosystem was designed to assist brokers, buyers, and tenants, eliminating tedious processes, enhancing access to properties, and enabling deals to close faster. CREXi has denied the charges and countered sued in June. Today, there is a total of 11 Crexi coupons and discount deals. Our mobile app team launched some new features this month, like the ability to share listings and view search results in list view. Series A - Crexi Crexi Series A $11,000,000 May 21, 2018 5. Crexi Dec 2021 - Present1 year 5 months Tampa, Florida, United States CREXi is an open marketplace for Commercial Real Estate. Founded in 2015, the Los Angeles-based company now has. Crexi has grown to 125+ employees and is headquartered in Los Angeles, California. Date of experience: April 02, 2023. The prop tech industry continues to grow throughout the country. Be the first to find this review helpful | Disclaimer CREXi conducted 17 land auctions comprising roughly 161 acres total from November 5-7, 2019. Crexi. | Contact The company conducted a Series A funding round in 2018, raising $11 million following two successful seed rounds in 2016 and 2017. Its investors include New York City-focused Prudence Holdings, Mitsubishi Estate, Industry Ventures and Jackson Square Ventures. | Terms & Conditions Follow and check our Crexi coupon page daily for new promo codes, discounts, free shipping deals and more. commercial real estate, announced a funding round this week worth $30 million. Commercial Real Estate Exchange Inc., or CREXi, has raised $30 million in a Series B funding round. Series C - Crexi Crexi Series C May 22, 2020 2. Launched in 2015, it is the younger of the two listing services and is the industry's fastest-growing and most active digital real estate and technology . It has since added more than 300,000 properties and now has a user base of 6 million, according to the company. Seed, Series A, Private Equity, Debt Financing), Total number of Investors in a Funding Round, Total number of Partner Investors in a Funding Round. CREXi's deal structure is available for 1 funding round, including their Series A from May 21, 2018. Crexi has raised a total of $54M in funding over 5 rounds. The companys core business has seen consistent growth with services expanding to include data and analytics features, as well as elite marketing and auctions products to fully service all facets of the CRE industry. Series B - Crexi Overview Organization Name Crexi Announced Date Jan 24, 2020 Funding Type Series B Funding Stage Early Stage Venture Money Raised $30M Lead Investors Prudence Prudence is an early-stage venture investor in technology companies leading the global transformation of the real estate sector. With millions of . The two hires follow CREXis launch of several new products, including a mobile app released and a database subscription. CREXi has 11 investors. Submit Offer Contact Crexi These tools include preferred property placement in searches, a built-in CRM dashboard with access to buyer data and leads, real-time reporting and a comprehensive analytics dashboard, and due diligence document management and storage with advanced SSL encryption. CREXi simplifies the CRE process by integrating the sales and leasing marketplace with a suite of marketing, analytics, and deal management tools. Brittany is an Account Executive at BAM Communications, playing a critical role in Crexi's media relations efforts. Being able to connect and attach an LOI in the competitive market we live in today has secured assets that would have been missed opportunities. Existing investors Lerer Hippeau Ventures, and Jackson Square Ventures also contributed to the round. Series B - Crexi Crexi Series B $30,000,000 Jan 24, 2020 3. You're more than your latest funding, tell our customers your company's story. Real estate reporter Hannah Madans can be reached at hmadans@labusinessjournal.com. DeGiorgio declined to provide earnings figures; the firm has raised a total of $54 million across four rounds since 2016, according to Crunchbase. This CRE ecosystem was designed to assist brokers, buyers, and tenants, eliminating processes, enhancing access to properties, and enabling deals to close faster. LOS ANGELES, Jan. 24, 2020 /PRNewswire/ -- CREXi, the commercial real estate (CRE) industry's fastest-growing marketplace, data, and technology platform, today announced a $30 million Series B . The round was led by Mitsubishi Estate Company,. Read the latest edition of the Commercial Observer online! Yet, these 10 retail brands prove there are many untapped opportunities in the year ahead. Since Crexis Series A announcement in 2018, the company has added over 300,000 properties available for sale or lease while growing its user base to 6 million through increased added value to its free and paid platforms. This white paper explores the lingering effects of the pandemic, takes a closer look at evolving traveler behavior, and analyzes what the resulting impacts are on foot traffic and surrounding businesses. The lawsuit, filed in U.S. District Court for the Central District of California, alleges six claims including copyright infringement, misappropriation and breach of contract. Even if it doubles headcount, CREXis gains would still be modest in comparison to CoStar, which has almost 4,700 employees and reported $480 million revenue last quarter. By continuing to use this site you are consenting to these choices. Quite frankly, I think this could be bigger than Coinbase, he said. Founded in 2015, the Los Angeles-based company now has 185 employees and 1.6 million users. Since launching in 2016, CREXi has quickly become the most active marketplace in the industry. The company intends to use the funds to grow its core business of broker services across the sales, leasing, and auction functions, and accelerate the refinement and expansion of buyer and tenant resources such as comparables and market intelligence. "MEC, Industry Ventures, and Prudence Holdings are powerhouse investors who share our vision of modernizing commercial real estate sales, lease, data and insights for the benefit of all parties involved.". The auction represented a step forward in digitizing traditional CRE processes[10]. Crexi Basics Overview Watch how to find listings in 90 seconds Watch how Crexi works for listings in 1 minute Set Up Your Account & Preferences Already have an account? About CREXi most recently completed a Series B funding round [2] in January 2020, raising $30 million to contribute toward scaling operations and building out data and AI services. CREXi will also use the money raised for more artificial intelligence and machine-learning components. It was founded in 2020 and is based in London, England. Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com. CREXi currently operates nationally, but DeGiorgio said an international expansion was a possibility down the line. Get ready to lose an hour of sleep (unless you're in Arizona or Hawaii) because Daylight Savings ends on November 1st this year. Your next commercial property or space is available on Crexi. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, Crexi Partners with the CCIM Institute to Provide One-Stop Property Listing Services for All Designee Members. Commercial Real Estate Exchange Inc., or CREXi, has raised $30 million in a Series B funding round. CREXi also offers marketing, analytics, and deal management software for brokers and buyers. CREXi is a commercial real estate platform that consolidates the commercial real estate process into a single ecosystem. Our goal is to bring the entire transaction buying, selling and leasing online, he said. Additionally, we intend on growing our market insight and data business in addition to our transactional offerings like online Auctions and Elite programs, adds DeGiorgio.