✨ Article summary: LeaseUp CEO Kurt Chisholm announces a seed round led by 11 Tribes Ventures, which will accelerate the company's mission to revolutionize commercial real estate with industry-leading tech tools. With 45,000 transactions processed and a 60% reduction in manual efforts among users, LeaseUp plans to enhance the platform and support brokers with advanced tech solutions.

This post was written by LeaseUp's CEO, Kurt Chisholm

Digitization of the commercial real estate industry has been accelerating over the past few years. At LeaseUp, having watched over 45,000 transactions flow through our platform, we have the privilege of seeing this unfold in real time.

But innovation in commercial real estate has still only scratched the surface of what this industry will look like in the near future, and we’re excited to be at the forefront of this transformation. Today we announce our seed round led by 11 Tribes Ventures, with participation from RedSwan Ventures, Second Century Ventures, Incisive Ventures, Alumni Ventures, C2 Ventures, and a number of strategic investors. As our team continues its mission to revolutionize the way the commercial real estate industry transacts, this capital will fuel further development of our platform, expand key partners, and grow the LeaseUp team.

When we raised our pre-seed round, the pandemic was beginning to show signs of accelerating technology adoption in the commercial real estate industry. The most innovative brokers saw an opportunity to reinvent their processes and leverage technology to automate how they work. We saw exponential growth in the amount of deals being run and managed on our platform, and we onboarded some of the largest brokerages in the world. Since then, our users have achieved a 60%+ reduction in manual efforts, and enhanced data visibility across their business.

Now is the time for us to build on this momentum.

The way that brokerages service clients, the offerings they provide, how they present themselves, and the experience they’re delivering to clients are fundamentally changing.

Brokerages are adding service lines, capturing more revenue opportunities per transaction, and looking for ways to streamline operations. The future of this industry lies in digital-first experiences, with multiple service lines offered to clients in an e-comm like experience. This is already the case with every other services business in the world, and will inevitably come to CRE as well. Tenants today are beginning to make hiring decisions based on which brokerage will provide the best tech-enabled experience. We hear this daily. Brokerages that lean in and capture first-mover advantage have an opportunity to create a moat that will become hard to beat.

With fresh capital and help from our investors, we will broaden LeaseUp’s platform to increase the business impact we can deliver to our customers. At the forefront of this is our dedication to the broker: the center of the industry, through which 94% of all transactions flow. Bet against them at your peril. We are committed to their success — committed to making their job easier, to driving innovation in how they manage their transactions, and to helping them win more business. We’ll also be investing in other strategic bets: AI and ML, APIs, and partnerships.

We could not have reached this exciting milestone without our customers and the innovators in this industry, and without a phenomenal team. If you’d like to join us on our mission to change commercial real estate, we’re hiring! Check out our careers page to learn more.

Looking forward, LeaseUp is excited to continue growing alongside the worlds best brokerages, bringing teams additional value. If you’re interested in seeing what LeaseUp can do for you, please visit our site or sign up for a demo.