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CrowdStreet Secures $8M Series B Funding

PORTLAND, OR, CrowdStreet, the commercial property investment marketplace, has raised $8 million in Series B financing.
CrowdStreet, the commercial property investment marketplace and software company that is transforming the $15-trillion U.S. commercial and multifamily real estate industry through its online fundraising, investing and investment management platform, has completed an $8-million Series B round of financing to fuel its next stage of growth.

The financing was led by Grotech Ventures, with continued participation from existing investors including Rally Ventures, Seven Peaks Ventures and Green Visor Capital, and also includes financing from strategic investor Noam Bardin, CEO of Waze. Lawson DeVries, general partner of Grotech Ventures, has joined CrowdStreet's board of directors.

CrowdStreet helps real estate developers and operators raise capital, acquire new investors and manage their portfolios and offerings online, while helping high-net-worth investors build wealth through online real estate investing.

"CrowdStreet is growing extremely fast and has proved to be very capital efficient as they've proven out the market and their business strategy," DeVries said. "This round of capital allows the company to continue to build out their industry-leading fundraising and investment management platform while also becoming the go-to marketplace for institutional-quality investment opportunities for high-net-worth investors."

"CrowdStreet is fundamentally changing the way people invest in commercial real estate," said Tore Steen, CrowdStreet CEO. "Previously, investors and sponsors could not transact with each other, but CrowdStreet, with our software and marketplace, has changed that. Hundreds of sponsors and thousands of investors now use the CrowdStreet platform to raise capital and invest in real estate to build wealth."

Steen added: "Sponsors increasingly recognize that moving their fundraising online streamlines operations, reduces capital costs and brings them more investors, and high-net-worth investors increasingly recognize that they can build wealth by investing in commercial real estate online through CrowdStreet. Now, with more repeat investors and sponsors than ever, we're realizing the network effect, which will catapult the company to the next level supported by the financing we're announcing today."

Proceeds from the Series B financing will go towards developing new products and services to meet investor demand and to provide a broader array of high-quality alternative investment vehicles. The funding will also be leveraged to continue to serve CrowdStreet customers with the best experience possible and to grow marketing and sales to acquire new real estate project sponsors and high-net-worth investors.

Key CrowdStreet Company Metrics (June 30, 2018)

-100,000+ investors on CrowdStreet platform
-Over $320 million capital raised on CrowdStreet marketplace through 220+ offerings
-228 sponsors on CrowdStreet platform
-$8.5 billion in commercial property value on CrowdStreet platform

About CrowdStreet

CrowdStreet is the premium provider of online commercial real estate investment marketplace, technology and professional services. Investors can directly access institutional-quality commercial real estate offerings with CrowdStreet's online investing platform. For CRE developers and operators, CrowdStreet Connect provides a platform to manage investors and investments, and to raise capital to grow their businesses. CrowdStreet maximizes opportunities for investors by diversifying outside of the traditional avenues of the stock market, better distributing risk and fundamentally transforming real estate investing through technology. Together, we are creating a community where individual investors and CRE firms are working together to maximize wealth through commercial real estate. The CrowdStreet senior leadership team has 120+ years of combined experience in real estate, technology, online marketing and private equity. For more information, please visit

About Grotech Ventures

Founded in 1984, Grotech Ventures is a leading investor in high-potential technology companies. With more than $1.3 billion under management, Grotech seeks innovative IT companies with particular emphasis on digital and social media; software and SaaS; security and storage technologies; healthcare information technology; and communications technology and services. Grotech continues to invest and add value throughout the growth of its portfolio companies. General partners include Frank Adams, Chuck Cullen, Lawson DeVries, Steve Fredrick, Don Rainey and Joe Zell. The firm has offices in Virginia, Maryland and Colorado. For more information, please visit
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