NEW YORK--(BUSINESS WIRE)--(“Revere”), a capital markets network and deal marketplace for commercial real estate (“CRE”) brokers, developers, owners, lenders, and investors, announced today the close of a $5 million funding round led by RET Ventures, with participation from other strategic investors including Related Companies, Holland Partner Group, The Feil Organization, Driftwood Capital, Davis Development, Essence Development, Jamie Henderson (Executive VP & Head of CRE at Capital One), and Jeff Staubach (Founding Partner at Staubach Capital).
Launched in May 2021, Revere is an invite-only, online marketplace for capital markets professionals looking to buy or sell a building, finance a project, and expand their network. Revere provides access to thousands of dealmakers and allows equity, debt, and investment sales teams to manage their entire capital markets workflow, from sourcing to close, on one-simple and easy to navigate platform. There is no commission tied to any transaction facilitated on Revere. Members pay a flat monthly fee.
A landlord, broker, or capital provider builds an individual profile, serving as their digital business card. Users can then search and discover vast amounts of first party capital markets data on people, companies, and transactions. Rather than spreadsheets and lengthy reports, users can automate deal marketing and feedback aggregation through matchmaking algorithms and workflow automation.
“As a long-time capital markets professional and Proptech enthusiast, I realized that while there are many ‘nice-to-have’ industry tools, nothing exists to help facilitate a transaction for today’s professionals. That is why we built Revere,” stated CEO Fred Krom. “Just as Bloomberg greatly enhanced capital markets on Wall Street, Revere’s goal is to do the same for CRE. Through the support of our investment group, encompassing nearly $700 billion of real estate, we will be continuing the growth of our best-in-class engineering (consisting of 4 ex-Googlers), product, sales and marketing teams.”
With 500+ companies onboarded since launch and $1.0 billion of transactions slated for the first half of 2022, the platform has been well received by owners and brokers alike. Creating an opportunity (debt/equity raise, refi, disposition) takes less than thirty minutes and the platform supports single assets, portfolios, and even funds irrespective of property type or location. With just a few clicks, owners and brokers can review deal info, view photos, schedule property tours, field inquiries, and compare term sheets and bids on one intuitive dashboard.
“We consistently hear from our 45 strategic investors about the need for intelligent tools to optimize the transaction process. Revere’s founders formed a cross-functional team with expertise in real estate, capital markets, and software engineering, who understand the pain avoided when equipped with the right capital markets insights, access to decision makers, and price discovery,” said RET Ventures Founder John Helm. “In a short time, Revere has partnered with several of the largest US multifamily, office, and hotel owners and we’re excited to help commercialize and scale the business.”
As Clyde Holland, Executive Chairman of Holland Partner Group, puts it, “Revere is an essential component of our acquisitions, capital markets, and investment management platform. The inefficiencies associated with dealmaking have been persistent pain points across our entire $10 billion portfolio and we believe this represents the future for how deals are executed.”
For more info about Revere’s capital markets network and to sign-up for a demo, visit www.reverecre.com.