Honest Buildings, a project management technology built for real estate owners and operators, has raised $13 million in its latest round of funding.
The round, one of the largest announced for real estate owner specific software, is backed by landlords including Brookfield Property Partners, Rudin Ventures, C-III Capital Partners, as well as venture capital firms Navitas Capital, Greensoil Building Innovation Fund, Bienville Capital Management and Riverpark Funds. Previous investors The Westly Group, Rockport Capital, Circle Ventures and Thrive Capital also participated in the round.
“Brookfield is committed to identifying and capitalizing on innovative technology that is built with our needs in mind to enhance our global operations,” said Ric Clark, chairman of Brookfield Property Partners.
“Honest Buildings has become an extension of the Brookfield property management and project management process teams, and we have seen valuable cost and time efficiencies driven by its platform as we continue to roll it out across our portfolio.”
Rudin began using the platform in 2016 and quickly decided that they wanted to invest. “We have seen every type of construction technology over the last 20 years and this is the only solution that truly anticipates the needs of the owner from a portfolio perspective,” said John Gilbert, COO of Rudin Management.
Last month Honest Buildings announced a 500 percent growth rate when over $6 billion in projects had run through the platform, rapidly expanding to properties in every state in the U.S. and into Canada.
New users to the platform over the last year include The Durst Organization, Silverstein Properties, Harvest Properties, Divco West, Washington REIT and many more.