Re-Leased, a cloud-based property management platform, has secured $15 million (£11.9 million) in a funding round led by JLL Spark. The platform offers real estate firms a technological solution to streamline property portfolio management in an industry known for its slow pace.
Through the portfolio dashboard, developers and landlords gain enhanced visibility and control over their properties. The platform supports various tasks such as building maintenance, reporting, invoicing, and document storage.
Re-Leased boasts a substantial user base, with over 50,000 properties and 100,000 leases already being managed through the platform worldwide.
Originally founded in New Zealand in 2013, Re-Leased has expanded its reach globally, establishing a presence in the UK with an office in Birmingham and a headquarters in London. The company also operates in the United States and Australia.
Re-Leased CEO Tom Wallace expressed his belief in the transformative power of technology in the commercial real estate sector, emphasizing the importance of adapting to the post-pandemic world. He views JLL Spark’s support as validation of Re-Leased’s vision and the robustness of their platform, which will position them as a global leader in this technological revolution.
The newly acquired funding will be utilized to fuel Re-Leased’s international expansion efforts and to develop and launch new software products and partnerships.
Kitty Sullivan, principal at JLL Spark, praised Re-Leased’s cloud-native software for disrupting the industry’s status quo and revolutionizing business operations for its customers. JLL Spark is confident in the platform’s ability to drive digital transformation in the sector and is eager to support its global growth.
With this latest funding round, Re-Leased has now raised a total of $24.8 million. Prior investments included an angel investment of $4.1 million.
