Company says funding will expand market share and increase US team size.
Agora, a real estate investment management platform, today announced raising a $20 million Series A led by Insight Partners, according to a press release.
The company says the funding, which also included participation from Aleph, will be used to enhance its platform and expand its industry-specific financial products to customers and across the larger market.
Through its platform the company aims to help real estate firms raise and preserve more capital by automating back-office processes, which it says optimizes operational efficiencies and increases investor satisfaction.
It says due to its sole focus on real estate investments, its software provides a number of industry-specific tools including a 1065 Schedule K tax filing automation, and options for global real-time cross-border payments.
“The majority of [competitors] are what we call the one size fits all — one software that fits real estate, VC, private equity, hedge funds, family offices, and so on,” Mor told Commercial Observer. “As things become more of a niche and more complex, there is a huge advantage in staying vertically specific. We stay strictly focused on the vertical of only real estate and we try to bring the combination of fintech and proptech together, not only providing a tool to manage information and to share data, but also to combine different types of services.”
Founded in 2019, Agora claims to have helped over 14,000 investors across the globe to handle over 23,000 investments and over $40 billion in assets under management, saying that its software makes “investment management simple, scalable, and highly secure.”
“As real estate firms grow, they raise more capital and close more deals. But that also means they have more assets to manage and investors to look after” stated Bar Mor, Agora CEO and co-founder, in the release.
“We use automation to help real estate firms function more professionally while building trust and credibility with their investors. Ultimately, we give real estate firms the ability to fundraise faster, save time on back office tasks, create timely, professional tax outcomes, and transfer funds to and from investors with a click of a button,” said Mor.
It also says it will go towards tripling its five-member staff in its Manhattan office, according to Commercial Observer.
Mor recently also wrote an opinion piece for FinLedger on artificial intelligence’s role in real estate investment management, which you can find here.
In other recent proptech news, Curbio secured a $25 million credit facility to continue pushing market growth. Closinglock also raised a $4 million seed round led by LiveOak to further develop its wire fraud security technology.
Blackstone-owned Home Partners of America, a single-family landlord, to halt single-family home purchases in 38 regional markets by September
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