RealBlocks, a New York-based technology platform for alternative investments, has announced an extension of its Series A financing, raising an additional $10 million. This brings the total investment amount to $20.7 million.
The funding round was oversubscribed and co-led by Crosslink Capital, a prominent venture investor based in Menlo Park, and Left Lane Capital, a New York-based global venture capital and growth equity firm.
The new capital will be used by RealBlocks to further expand and scale its technology platform, which offers an end-to-end digital investing process and secondary trading for alternative investments.
“We’re incredibly grateful for the engagement and support we have received from our investor base,” said Perrin Quarshie, CEO of RealBlocks. “This is a significant milestone that is indicative of our past accomplishments and our future success, especially now during a period of economic uncertainty that is leading investors to be more cautious. RealBlocks is uniquely positioned to fundamentally reshape the alternative investing experience for fund managers and their investors, and this funding will help advance our mission to make investing in private funds as easy as it is with public funds.”
RealBlocks offers a scalable SaaS open architecture platform technology that allows for all functionality to be set up once and used across all of a manager’s funds, thereby making any fund accessible to any investor in any geography, worldwide.
Today, RealBlocks services over $77 billion in assets under administration, and its technology is now being used by RIAs and wealth management firms. This year, the firm also launched a special purpose vehicle (SPV) offering and a product called Queue Protection in response to the growing demand for a solution to help relieve mounting liquidity pressure for private funds hitting redemption limits or being gated.
Company: Envexergy, Inc.
Round: Series A
Funding Month: May 2023
Lead Investors: Crosslink Capital and Left Lane Capital
Company Website: https://www.realblocks.com/
Software Category: SaaS Open Architecture Platform
About the Company: RealBlocks was founded in 2019 by Perrin Quarshie, with the goal of providing open access to alternative investments, such as real estate, infrastructure, private equity, and debt. The company aims to enhance the investment experience for wealth managers, advisors, and investors. RealBlocks provides a web-based platform that disrupts the currently complex, expensive, and lengthy process for distributing private equity and alternative investments. RealBlocks is transforming the alternative investment space by offering an end-to-end white-labeled, fully-digital investing and administration experience for managers and clients, including digital onboarding, subscriptions, capital calls, platform analytics, automated subscription document generation, and liquidity solutions.