PropTech Collaboration Platform Workframe Raises $9.5M from Newmark
CRE property management software startup Workframe announced that it has raised $9.5 million in a Series B funding round led by commercial real estate giant Newmark Knight Frank.
Full disclosure: Newmark is a member of Dreamit UrbanTech's customer partner network and works with the Dreamit team to source innovative tech solutions.
Workframe is a startup at the intersection of three major trends in commercial real estate: streamlined customization of properties for tenants, better data visualization for CRE professionals, and more efficient document management for all parties.
Workframe was founded in 2014 by Robert Moore, Andy Parsons, and Matthew Smith. The startup sells an online platform that allows office landlords and major tenants to track their workflow, communicate with each other and oversee construction work, among other functions.
For real estate tenants, the product enables better communication across teams, which helps to accelerate project timelines and significantly reduce complexity from site selection to move-in. Users can track progress on various projects, store key documents, and manage all tasks in a single portal. You can also keep track of external vendors through the product.
For landlords and owners, the Workframe value proposition is that it increases transparency and expedites tenant space delivery. The tool also contains a “Smart Drawing” technology to bring conversations, tasks and approvals to life while viewing the actual layout of the space.
Moore founded the company with Matthew Smith Andy Parsons. Dan Suozzi, a former executive at JLL and director of real estate at Regus, is the firm’s chief revenue officer. Robert Moore, the company’s CEO, said the startup will use the money for staffing and product development.
Newmark, which went public in December, recently led a $70 million funding round for WeWork rival Knotel.
By Charles LaCalle | @charleslacalle