Juniper Square, a technology company that helps connect investment firms with private capital to be used to invest in real estate, announced this week that it raised $25 million to help grow its business.
The Series B funding round was led by Ribbit Capital, a financial technology venture capital firm. Felicis Ventures, Zigg Capital, and other investors from the real estate industry also participated in the funding round.
The funding brings Juniper Square’s total capital raised to $33 million.
The company boasts 150 investment firms as customers, including Gaw Capital, PCCP, Rockpoint Group, Rockwood Capital, Stockbridge Capital, and Tishman Speyer.
According to the company, Juniper Square is now used to manage nearly 10,000 real estate investments, and there is currently more than $5 billion in capital being raised across nearly 500 active offerings on the company’s platform.
“Our mission is to transform the world’s private capital markets through software,” said Alex Robinson, Juniper Square’s CEO and co-founder.
“This investment by Ribbit Capital is a testament to the strength of our long-term plans for Juniper Square,” Robinson continued. “We see an opportunity to digitize a multi-trillion dollar asset class, bringing it online and out of spreadsheets, and this additional capital will enable us to do more, faster on behalf of our customers.”
Nick Shalek, general partner at Ribbit Capital, said the firm looks to invest in technology companies that have the potential to reshape the landscape of financial markets, and the firm believes it found that in Juniper Square.
“Real estate is the world's biggest asset class, yet it's highly inefficient and remains largely inaccessible,” Shalek said.
“Juniper Square is rapidly becoming the system of record for private commercial real estate, bringing the promise of modern technology along with it,” Shalek added. “The opportunity is enormous, and we are excited to back a team with the deepest technology bench in their industry and a huge long-term vision for capital markets.”