Leasecake, a cloud-based working system for lease and placement administration, has raised $12 million led by PeakSpan Capital, a Silicon Valley funding agency centered on growth-stage B2B software program corporations.
Las Olas Enterprise Capital and different present buyers participated within the spherical, together with strategic buyers together with Branded Strategic Hospitality. Leasecake will use the funding to develop headcount by 80% over the following 18 months, create platform choices and develop additional into Europe and Latin America, Taj Adhav, CEO and co-founder of Leasecake, stated in an organization press launch.
“Over the previous 12 months we skilled vital demand from companies of all sizes leveraging our answer to turn out to be extra environment friendly, collaborative and nimble,” he stated. “Our prospects instantly noticed how our platform delivers quick solutions for a major aggressive benefit, particularly in terms of an important elements of their enterprise. The world is rushing up, and the way forward for work means discovering straightforward methods to behave on what issues. For our prospects throughout the retail, workplace and industrial sectors — the long run is now.”
Leasecake permits tenants, brokers and landlords to handle location-related providers, from lease administration and lease accounting to insurance coverage agreements and franchise operations, Adhav stated concerning the software program that gives centralized entry to lease and placement data, integrating information from a number of sources to function a single supply of fact for organizations on each side of the market.
The shift to distant work in the course of the pandemic has accelerated demand for enterprise location administration know-how. Leasecake’s income elevated fivefold in 2021 in comparison with the earlier 12 months, with prospects starting from single-site operators to companies managing greater than 1,000 areas.
Streamlining operations for effectivity and collaboration
Leasecake’s know-how helps companies streamline operations, adjust to lease accounting requirements, monitor contracts and collaborate extra effectively with service suppliers. The problem with siloed legacy methods is that they are not intuitive and infrequently cannot adapt to a cell workforce, however with Leasecake, companies of all sizes keep on high of their location portfolios, stated David Schrader, chief product officer of Leasecake.
“Members on our platform symbolize each facet of the true property life cycle,” he stated within the launch. “The know-how lets them seamlessly collaborate and share information with actual property brokers, CPA corporations, lenders, attorneys and insurance coverage brokers — events supporting all sides of a lease or purchase/promote transaction, to allow them to rapidly transfer via due diligence, assembling correct monetary statements to shut loans and do offers quicker.”