NavigatorCRE secures GBP12.5m in Series A funding round
NavigatorCRE, a commercial real estate data analytics SaaS platform, has completed a GBP12.5 million Series A funding round led by Fulcrum Equity Partners.
Also including participation by existing investors, the round paves the way for the Seattle based start-up to now enter the UK commercial real estate market.
NavigatorCRE has been one of Seattle’s fastest growing startups, with offices in Seattle, Los Angeles and Dallas and a client roster of some of the largest commercial real estate operators in the USA. The company intends to double its size and revenue over the next year, and has set a goal for the U.K. to become a substantial part of the business by 2023. Funding will also allow NavigatorCRE to open a dedicated London office in Q4 2021, with the U.K. also seen as the ideal location from which to expand to Europe.
Commenting on the firm’s UK expansion plans, Taylor Odegard, CEO and Founder of NavigatorCRE, says: “We want to become the go-to platform across the globe for data optimisation, visualisation and analytics in commercial real estate. For us, the UK has always felt like the natural next step on that journey, as well as the ideal launchpad into Europe and beyond. The power of data in decision making is just as important in the UK, meaning the opportunities for NavigatorCRE here are enormous. The conclusion of our funding round, coupled with our clients’ increasing appetite for overseas expansion themselves, means we’re now in a position of real strength to make this exciting step.”
Lead investor, Fulcrum Equity Partners, has a strong track record in SaaS platform investments with over 25 investments in the SaaS, HealthTech & FinTech sectors. Fulcrum Partner, Frank X.
Dalton says: “We’ve seen a need across industries for centralised data solutions, and Navigator has become that in the CRE space. They have revolutionised the way CRE operations approach data, paving the way for more informed, insightful decision making.”
Founded in 2015, NavigatorCRE saw a huge gap in the technology that serves the commercial real estate industry and found that most operators, from Asset Managers to Brokers, had extremely limited capabilities to unlock the power of data in their day-to-day operations.
Kevin Shtofman, COO of NavigatorCRE, adds: “We strive to be integral to the success of our customers. We see a rapidly growing industry trend to gather, audit, integrate, and visualize data in order to drive insights in just minutes vs months and years, (which is the industry norm). We feel so strongly about this that we call it our customers’ Return on SpeedTM.”
NavigatorCRE has seen much success since shifting its platform focus from solely brokerage services to focus on the enterprise asset management and occupiers in 2019, and has received numerous awards for innovation in data analytics, asset management, capital markets and occupier services from TechCrunch, CREtech and RealComm.