NEW YORK--(BUSINESS WIRE)--RealBlocks, a technology platform for alternative investments that provides an end-to-end digital investing process and secondary trading, today announced a $10 million extension of its Series A financing, bringing its total investment amount to $20.7 million. The round was oversubscribed and co-led by Crosslink Capital, a prominent venture investor based in Menlo Park with a focus on B2B, fintech and SaaS, and new investor Left Lane Capital, which is a New York-based global venture capital and growth equity firm investing in internet and technology companies.
The additional capital will enable RealBlocks to continue to scale its technology platform that provides capabilities such as onboarding and management of the entire lifecycle of alternative funds and their investors.
“We’re incredibly grateful for the engagement and support we have received from our investor base,” said Perrin Quarshie, CEO of RealBlocks. “This is a significant milestone that is indicative of our past accomplishments and our future success, especially now during a period of economic uncertainty that is leading investors to be more cautious. RealBlocks is uniquely positioned to fundamentally reshape the alternative investing experience for fund managers and their investors, and this funding will help advance our mission to make investing in private funds as easy as it is with public funds.”
RealBlocks launched in 2019 with the aim of providing open access to alternative investments –– real estate, infrastructure, private equity and debt –– while improving the investment experience for wealth managers, advisors and investors. The firm’s technology is now utilized by some of the most respected real estate, private equity and alternative investment managers in the world, including LaSalle investment management who utilizes RealBlocks throughout its entire $77 billion business.
“There is growing demand in-market for a digital-first offering to alleviate the friction that antiquated business processes cause within the investment fund ecosystem,” said Harley Miller, CEO and Managing Partner at Left Lane Capital. “With a highly robust product suite and an extremely dedicated team, we believe RealBlocks is well positioned to capitalize on this opportunity.”
Today, RealBlocks services over $77 billion in assets under administration, and its technology is now being used by RIAs and wealth management firms. This year, the firm also launched a special purpose vehicle (SPV) offering and a product called Queue Protection in response to growing demand for a solution to help relieve mounting liquidity pressure for private funds hitting redemption limits or being gated.
RealBlocks provides a web-based platform that disrupts the currently complex, expensive, and lengthy process for distributing private equity and alternative investments. RealBlocks is transforming the alternative investment space by offering an end-to-end white-labeled, fully-digital investing and administration experience for managers and clients, including digital onboarding, subscriptions, capital calls, platform analytics, automated subscription document generation and liquidity solutions. RealBlocks offers the first scalable SaaS open architecture platform technology that allows for all functionality to be set up once and used across all of a manager’s funds, thereby making any fund accessible to any investor in any geography, worldwide. To learn more, visit www.realblocks.com.
About Left Lane Capital
Founded in 2019, Left Lane Capital is a New York-based global venture capital and growth equity firm investing in internet and technology companies with a consumer orientation. Left Lane’s mission is to partner with extraordinary entrepreneurs who create category-defining companies across growth sectors of the economy, including software, healthcare, e-commerce, consumer, fintech, edtech, and other industries. Select investments include GoStudent, M1 Finance, Wayflyer, Bilt, Masterworks, Blank Street, Talkiatry, Tovala, and more. For more information, please visit www.leftlanecap.com.
About Crosslink Capital
Crosslink, founded in 1989, is a Bay Area-based early-stage venture capital firm with over $3.2B in assets under management. Crosslink partners with founders that are market disruptors and category creators, typically at the Seed-Series A stage, across highly dynamic enterprise and consumer technology sectors. Crosslink has a track record of early investments in disruptive technology companies including AutoFi, Chime, Forma, Novo, Overjet, Personal Capital (acquired by Empower Retirement), and Step.