Northspyre, a New York-based financial tracking and project delivery automation platform for real estate developers, announced it has secured $25 million in Series B funding to further grow its business and expand its solution to improve the development process within the multi-trillion-dollar commercial real estate industry.
The round was led by CRV, with participation from Craft Ventures, Tamarisc Ventures, and Des Traynor, co-founder of Intercom.
The funds will be used to bring Northspyre to additional customers across the United States and select international markets, launch new products, and continue to refine and improve the core solution.
Company: Northspyre Incorporated
Raised: $25.0M
Round: Series B
Funding Month: February 2022
Lead Investors: CRV
Additional Investors: Craft Ventures, Tamarisc Ventures, and Des Traynor
Company Website: https://www.northspyre.com/
Software Category: Financial tracking and project delivery automation platform
About the Company: Northspyre is a cloud-based intelligence platform that empowers real estate owners and development teams to make more proactive, data-driven decisions when managing complex, multi-million-dollar projects such as ground-up developments, fit-outs, and major renovations across all asset classes. Northspyre leverages the power of automation, data analytics, and artificial intelligence to enable development teams to reduce project costs and unlock higher profits with real-time actionable insights, thereby achieving more predictable outcomes and realizing significant time and cost savings. Northspyre’s technology is dedicated to helping teams deliver even the most complicated projects on time and on-budget. Since 2017, Northspyre has facilitated more than $44 billion in client projects
Source: https://www.businesswire.com/news/home/20220211005112/en/Northspyre-Raises-25-Million-in-Series-B-Funding-To-Fuel-Its-AI-Powered-Solution-for-Real-Estate-Developers