Cloud-based property management platform Re-Leased has raised $15m (£11.9m) in a funding round led by JLL Spark.
Re-leased is a platform for real estate firms to manage property portfolios, providing a technological boost to a traditionally slow-moving industry.
The portfolio dashboard gives developers and landlords greater visibility and control of their properties, as well as supporting building maintenance, reporting, invoicing and document storage.
The platform is already in use for the management of more than 50,000 properties and 100,000 leases worldwide, Re-Leased said.
Founded in New Zealand in 2013, the company has established an international presence with the opening of a UK office in Birmingham and a headquarters in London.
The company also operates in the US and Australia.
“At Re-Leased, we believe in the power of technology to shape the future of commercial real estate to drive better outcomes for people, property and the planet, and JLL Spark’s backing is a strong validation of this vision and the platform we’ve built,” said Re-Leased CEO Tom Wallace.
“Commercial real estate needs to adapt to remain relevant and thrive in a post-pandemic world. This investment and partnership with JLL Spark will help to cement our place as a global leader in this technological shift.”
Re-Leased will use the new investment to continue the company’s international growth and for the development and release of new software products and partnerships.
Kitty Sullivan, principal at JLL Spark said: “Re-Leased’s cloud-native software is disrupting the status quo, revolutionising the way its customers run their businesses.
“We are confident in the platform’s potential to push the envelope of digital transformation for the sector and look forward to supporting its global growth.”
With the addition of the new funds, the company has now raised a total of $24.8m, with the previous funding coming from an angel investment of $4.1m.
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