NEW YORK, March 11, 2021 /PRNewswire/ -- Occupier, a
company that helps businesses navigate the complexities of managing
a portfolio of real estate leases, and ensure compliance with new
accounting standards, has finalized a funding round of $5M. The round is led by Alate Partners and
MetaProp, with participation from Second Century Ventures, Thomson
Reuters Ventures, and commercial real estate industry leaders
across the U.S.
The company, founded in 2018 by VTS and JLL alums Andrew Flint, Matt
Giffune, and Erik Pearson,
aims to bring much-needed innovation to the lease management, lease
accounting, and transaction management space for occupiers of
commercial real estate and their tenant representation brokers. At
a time when all businesses are being forced to re-evaluate their
post-pandemic real estate operations, the company is experiencing
rapid growth.
The Occupier platform connects all business stakeholders,
internal and external, to a single source of real estate portfolio
data, and allows them to collaborate on critical workflows for site
selection, deal negotiation, lease management, and compliance with
new FASB ASC 842 and IFRS 16 lease accounting standards. The
company also provides client and deal management software to tenant
representation brokers, allowing them to better serve their clients
and drive transaction volume in a centralized system. Customers
include DraftKings, Hopper, Shake Shack, Bluestone Lane Coffee,
Bonobos, JLL, CBRE and T3Advisors.
"Our vision is to be the place where commercial real estate
happens online," explains Occupier Co-Founder Matt Giffune. "The opportunity to eliminate the
complexity, uncertainty, delay, and missed opportunities inherent
in a historically off-line process for managing a company's real
estate is massive. Whether you oversee a portfolio of corporate,
retail, or industrial locations, or are a brokerage team managing a
pipeline of deals, Occupier puts you in position to make decisions
that eliminate unnecessary costs and create flexibility and growth
for your business."
"An unprecedented convergence of major forces is upending the
traditional norms of commercial real estate," adds Occupier
Co-Founder Andrew Flint. "The
Covid-19 pandemic has forced companies to rethink their use of
space, and looming changes to lease accounting standards require
companies to change how they treat their real estate expenses on
their balance sheets. In order to adapt to this new dynamic,
businesses need to invest in real estate technology that supports
their future success."
Occupier will use the capital to scale its team, with immediate
hires focused on product engineering, sales, and marketing,
accelerating their product roadmap in order to solve more problems
for an increasingly wide range of stakeholders on both the tenant
and broker sides of commercial real estate.
Courtney Cooper, Principal of
Alate Partners who is joining the company's board of directors,
indicates, "Occupier's founding team has demonstrated a deep
understanding of the pains and struggles experienced by businesses
managing a real estate portfolio. We have been working with the
Occupier team since their earliest days, and are excited to see
them continue to drive innovation in an underserved market."
"What excites us most about Occupier is the massive opportunity
they have to provide modern technology to an extremely underserved
market of occupiers of commercial space and their advisors," adds
MetaProp Partner Maureen Waters. Maureen will join Occupier as a
Board Observer. "Occupier's unique insight into the problems
facing commercial real estate tenants and brokers positions them as
the innovator in space with an ever-increasing demand for data
transparency and collaborative workflow tools."
About Occupier
Occupier provides lease administration,
lease accounting, and transaction management software for
businesses and their commercial brokers. It helps real estate teams
make smarter, more informed lease decisions by centralizing the way
they work. Founded by commercial real estate and proptech veterans,
Occupier works with teams in a variety of industries, including
companies such as DraftKings, Hopper, Bluestone Lane Coffee, FM
Global, and Outdoor Voices. To learn more, please visit
occupier.com or follow Occupier on Twitter @occupierhq and the
Fully Occupied Podcast.
About MetaProp
MetaProp is a New York-based venture capital firm focused on
the real estate technology ("PropTech") industry. Founded in 2015,
MetaProp's investment team has invested in 125+ technology
companies across the real estate value chain. The firm manages
multiple funds for both financial and strategic real estate
investors that represent a pilot- and test-ready sandbox of 15+
billion square feet across every real estate asset type and global
market. The firm's investment activities are complemented by
pioneering community leadership including the PropTech Place
innovation hub, MetaProp Accelerator at Columbia University programs, global
events NYC Real Estate Tech Week and Propel by MIPIM
NYC, and publications Global PropTech Confidence Index
and PropTech 101.
About Alate Partners
Alate Partners invests in
entrepreneurs who are rethinking real estate. Founded through a
partnership between Dream and Relay Ventures, Alate focuses on
innovative technology companies that enhance how commercial,
residential, and industrial real estate is designed, built, and
managed. In addition to capital, Alate provides unique access to
expertise and customers through its network of influential real
estate owners, operators, and managers. For more information on
Alate, visit alatepartners.com.
Contact Information: Maddie Hirsch – Senior PR
Strategist at Influence & Co. mhirsch@influenceandco.com
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SOURCE Occupier