Sorenson Capital Leads the Round with Additional Funding from Canaan Partners to accelerate the company’s significant growth
LOS ANGELES, CA – July 14, 2015 — RealtyMogul, a leading online marketplace for real estate investing, today announced it has raised a $35 million Series B financing round led by Sorenson Capital with additional funding from Canaan Partners, the lead investor in the company’s Series A financing. RealtyMogul.com intends to use this new financing to hire more technologists and data scientists and strengthen its robust technology platform, which uses big data to get smarter about risk profiling in real estate. The company also plans to further expand its geographic presence across the U.S. To date, RealtyMogul.com has already helped fund 240 properties totaling more than $500 million in value.
Over the last 12 months, RealtyMogul.com has been on a tear, growing from 10 employees to 80, and its impressive trajectory is expected to continue. This funding news also comes on the heels of the company’s announcement of three key senior hires: Ryan Sakamoto joins as in-house general counsel, and Michael Sanchez and Charles H. Kim have joined the company’s commercial lending division from Colony Capital.
“We’re excited to be partnering with Sorenson Capital and Canaan Partners for this next stage of our growth,” said Jilliene Helman, CEO of RealtyMogul.com. “Their investment underscores RealtyMogul.com’s innovative technology for the full stack of real estate transactions, both debt and equity, and will help bring the $11 trillion commercial real estate market into the 21st century.”
Whether you are an accredited or institutional investor looking to diversify your portfolio, a borrower in search of flexible debt, or a real estate sponsor looking for joint venture equity, RealtyMogul.com offers a fast, easy, frictionless platform that connects clients to previously inaccessible investment opportunities and capital. RealtyMogul.com is setting a new standard for real estate investing by providing access to equity and debt that would likely take several months to secure through more traditional means.
“We’re seeing online marketplaces massively transforming other industries, and RealtyMogul.com’s growth path clearly shows they’re poised to be the key disruptor in the huge asset class of real estate investing,” said Rob Rueckert, head of Sorenson Capital’s technology practice and RealtyMogul.com board member.
“We’re thrilled to continue supporting RealtyMogul.com in their pursuit of becoming the gold standard for commercial real estate capital on the internet,” said Hrach Simonian, Partner at Canaan Partners and RealtyMogul.com board member.