Redpoint Ventures Leads $75 Million Funding for Juniper Square
(Bloomberg) -- Juniper Square, a startup maker of software for commercial real estate investing, raised $75 million in a series C funding round led by venture capital firm Redpoint Management LLC.
Ribbit Capital, Felicis Ventures LLC and Zigg Capital also participated, Juniper said Thursday in a statement. Elliot Geidt, a partner at Redpoint, joined Juniper’s board last month.
“It’s kind of a full investment for us, and I am really prepared to get super involved,” Geidt said in an interview. “There’s a view that the product has proven itself in the marketplace, and there’s so many additional product features and business lines that they want to get into.”
The five-year-old San Francisco-based company aims to create a record of ownership that it says will make commercial real estate more accessible to investors, who could buy shares in properties as if they were stocks. The U.S. commercial real estate market is valued at $16 trillion, according to Nareit.
“You can’t just go into Charles Schwab and buy a share of a building,” Juniper Chief Executive Officer Alex Robinson said in an interview. “We do believe in the future you’ll be able to do that.”
Juniper’s series B funding round last year raised $25 million.
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