RealtyShares Ends Busy Summer By Securing Millions In Series C Funding
RealtyShares topped off a busy summer by raising $28M during recent Series C funding, bringing its total capital to date up to $60M. As of this summer, San Francisco-based RealtyShares has deployed $500M across over 1,000 real estate opportunities in 39 states. It also has financed over $242M across 120 commercial debt and equity projects and is on its way to funding over $300M this year.
The online real estate investment platform closed its largest industrial debt loan in August for $8.7M toward a 30K SF mixed-use warehouse in San Francisco’s South of Market neighborhood. RealtyShares also deployed $1.5M in common equity for a retail distribution center in Littleton, Massachusetts.
RealtyShares’ recent funding came from Cross Creek Advisors, Danhua Capital, Starwood Capital Group Chairman and CEO Barry Sternlicht and Bow Capital. Prior investors Union Square Ventures, General Catalyst Partners and Menlo Ventures also contributed capital.
“Middle-market commercial real estate comprises the majority of commercial real estate transactions, but it’s one of the last frontiers to be disrupted by technology,” RealtyShares CEO Nav Athwal said. “The new partners we’re bringing on in this round have significant experience transforming old industries, and can help us deepen our focus on the severely underserved commercial financing market.”