Juniper Square has built a tech platform for commercial real estate companies to manage their investments. The company started in San Francisco — where real estate is basically more expensive than anywhere else in the country — but now it’s looking to expand in Austin.
On Thursday, Juniper Square announced that it raised $75 million in a Series C funding round. This brings the company’s total funding to over $100 million.
“In an ideal world, commercial real estate could be traded with the information, trust, and ease available in public equity markets. The world’s second biggest asset class deserves world-class technology for managing ownership, yet none exists,” co-founder and CEO Alex Robinson said in a statement. “With this latest round, Juniper Square is better able to seize the opportunity to change the status quo in a way that benefits both GPs and LPs in the commercial real estate ecosystem. Our vision is that one day, an institution or individual could invest in a share of a commercial building just like they would in a share of stock on the NYSE.”
Juniper Square hopes to use this money to fuel its growth. The company’s platform is used to help manage nearly $800 billion in real estate, which makes up about 5 percent of the $16 trillion commercial real estate market.
Part of this growth will involve expanding in Austin. Juniper Square’s Austin office is home to sales, customer success and product operations teams, with a focus on serving customers in the Midwest, East Coast and South Central regions. These customers include Endeavor, Thrive, Artesia Real Estate and PSW Real Estate among others.
There are more than 30 employees in Juniper Square’s Austin office, and the company plans to double that number in 2020, according to a company spokesperson.
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