Occupier Raised $10.5 Million Series A! What’s Next?
Last Updated on August 30, 2022 by Neil Patel Accel
We are ecstatic to announce our $10.5 Million Series A fundraise, co-led by Stage 2 Capital and OMERS Ventures with participation from our seed stage investors, Alate Partners, MetaProp and Second Century Ventures. Check out the full story here from TechCrunch.
Since Occupier’s founding, we’ve focused on building a user-friendly solution for brokers, real estate teams and finance professionals to collaborate on the entire lease lifecycle. After three years, earning a Top 50 Seed Stage Company nod, and ushering in a new wave of solutions for commercial real estate professionals, we are excited to embark on a new chapter of massive growth! The effects of the COVID-19 pandemic and recent changes to FASB ASC 842 and IFRS 16 lease accounting standards combined, have left companies no choice but to take control of their real estate.
This Series A funding allows us to hire exceptional talent across the organization in engineering, product, sales, customer success, and marketing. In addition, we are investing in product development and the long-term vision of supporting the natural evolution of commercial real estate work.
The Commercial Real Estate Space
The pandemic revealed a dire need for a techstack built specifically for commercial real estate professionals. Tenants, brokers, employees, and customers have all reevaluated their relationship with their space.
Historically, commercial real estate teams have worked in numerous systems, without a single source of truth to analyze lease portfolio data. Meanwhile, “sales teams have Salesforce, finance teams have NetSuite, design teams have Figma, HR teams have Workday and, now real estate teams have Occupier,” says Liz Christo, Partner at Stage 2 Capital.
The future of real estate decisions starts with centralization, collaboration, automation, and the ability to unlock unique real estate data points. Occupier is empowering commercial real estate professionals to spend more time on strategic work, and less time wrangling information and duplicating manual tasks.
Looking in Rear View
For the Modern Occupier — 2021 Was a Year of Adaptation. The CRE world has never seen a year like 2021, in which nearly every vertical was disrupted by the pandemic.
Office occupiers started experimenting with hybrid work models, restaurateurs began adopting ghost kitchens, and retailers continued exploring omni-channel models. All in response to a fundamental human change in how people interact with shared space.
E-commerce, food delivery, last mile services, and shared workspaces are just a few examples of how organizations shifted their business models. Central to each of these businesses is a real estate methodology for growth and success.
At Occupier, the pandemic presented a major shift in how modern tenants and brokers navigate the complexities of lease management and lease accounting. Understanding and having a real estate strategy in place for lease administration and lease accounting compliance has become mission critical.
With that in mind, we are excited to share a few highlights from the past years.
- In 2020, we launched Occupier Lease Accounting to help finance teams comply with the new lease accounting standards FASB ASC 842 and IASB IFRS 16.
- We have forged strategic partnerships with Avison Young, NAI, and Embark Accounting in order to craft the best-in-class tenant and broker experience.
- We helped more than 130 fast growing, tech savvy, modern occupiers take control of their real estate by leveraging Occupier.
2022, and Beyond!
We’re supporting the future of work, we’re unlocking unique real estate data for commercial tenants and tenant-rep brokers, and we’re looking forward to doing more and doing it faster with this new round of investment.
Our vision is to unlock the unique real estate data embedded in every organization’s portfolio. We are empowering tenants in real estate and finance as well as tenant-rep brokers with real time data for analysis and better decision making.
“The future of work is here, it’s Occupier,” says Co-Founder, Matt Giffune.
Thank You to Our Occupier Users
Our users are so much more than customers, they are our true enthusiasts and our support system! Every single occupier user and customer has been instrumental in our product development, our growth, and our success. Via feedback loops, community, word-of-mouth, referrals, and reviews — you’ve shaped the Occupier real estate techstack and defined what the future of work looks like for the modern occupier.
We cannot wait for the next year and with this Series A look forward to delivering more modern and intuitive solutions for real estate professionals everywhere.
Read our full Series A press release here.