Altrio today announced that it has raised CAD$8 million in Series A funding to digitize global real estate capital markets. The investment was led by Whitecap Venture Partners with participation from Mantella Venture Partners, Alate Partners, and Colliers. Altrio plans to use the funds to double its head count from 26 today to more than 50 by the end of 2022, and to accelerate the development of its product roadmap. Concurrent with the funding round, Shayn Diamond, partner at Whitecap Venture Partners, will join the Altrio board of directors.
Altrio solves a significant problem for the institutionally managed commercial real estate market, which is valued at $11 trillion and is expected to grow to $40 trillion over the next two decades. Despite the size of the market, real estate investors, managers, lenders, borrowers, and brokers often lack both the data they need to invest with confidence and the workflow automation capabilities they need to get deals done fast. Altrio addresses this issue through Origin, its data-driven cloud-based deal management platform. Origin is an easy-to-use solution that provides a single source of truth about an organization’s investment pipeline, owned assets, and proprietary market knowledge. Origin reduces the time required to perform administrative tasks, keeps team members coordinated, and streamlines the flow of information across a company’s global operations.
Altrio’s Origin deal management solution is trusted by customers with combined assets under management of more than $1 trillion, including two of the world’s three largest real estate investors. Origin’s users manage equity and debt transactions in every sector, across the Americas, Europe, and Asia.
“Companies that invest in real estate are not satisfied with traditional deal management platforms that focus exclusively on deal tracking. So, they have enthusiastically embraced our more data-driven approach to deal management, which enables them to leverage their proprietary information to invest with greater conviction and move quickly on competitive deals,” says Raj Singh, CEO of Altrio. “In addition to the significant growth we have seen in our customer base, the ability to secure this investment in just three months at a time when market conditions are particularly challenging, is a testament to the value that Origin delivers to real estate investors.”
“Altrio’s solution is unique in the market in that it combines process automation with robust data management. This ensures that real estate investors have a single solution to manage their entire investment process and keep track of everything needed to get a deal done, from a first look to final close,” says Shayn Diamond, partner at Whitecap Venture Partners. “Because of the huge benefits that Origin delivers, Altrio has generated significant traction with leading global real estate investors that are rapidly adopting its platform.”