Agoraa real estate investment management platform, today announced a $20 million Series A round led by Insight Partnersaccording to a press release.
The company says the financing, which also included the participation of Alephwill be used to enhance its platform and expand its industry-specific financial products to customers and the wider market.
Through its platform, the company aims to help real estate companies raise and preserve more capital by automating back-office processes, which it says improves operational efficiency and increases investor satisfaction.
It says that due to its sole focus on real estate investments, its software provides a number of industry-specific tools, including Schedule K 1065 tax filing automation and options for payments. global cross-borders in real time.
“The majority of [competitors] are what we call one size fits all – software that fits real estate, venture capital, private equity, hedge funds, family offices, and more. Mor told Commercial Observer. “As things become more niche and more complex, there is a huge upside to staying vertically specific. We remain strictly focused on the real estate vertical only and try to bring together the combination of fintech and proptech , not only providing a tool to manage information and share data, but also to combine different types of services.
Founded in 2019, Agora claims to have helped more than 14,000 investors around the world manage more than 23,000 investments and over $40 billion in assets under management, saying its software makes “investment management simple, scalable and highly secure”.
“As real estate companies grow, they raise more capital and close more deals. But that also means they have more assets to manage and investors to watch,” said Bar Mor, CEO and co-founder of Agora, in the press release.
“We use automation to help real estate companies operate more professionally while building trust and credibility with their investors. Ultimately, we give real estate companies the ability to raise funds faster, save time on back-office tasks, create professional tax results in a timely manner, and transfer funds to and from investors with the click of a button,” Mor said.
It also says it will move toward tripling its five-member staff in its Manhattan office, according to Commercial Observer.
Mor also recently wrote an opinion piece for FinLedger on the role of artificial intelligence in real estate investment management, which you can find here.
In other recent proptech news, Curbio secured a $25 million credit facility to continue to drive market growth. Closing lock also raised a $4 million funding round led by LiveOak to further develop its wire fraud security technology.