ORLANDO, Fla.–(BUSINESS WIRE)–April 25, 2022–
Leasecake, the cloud-based operating system for lease and location management, today announced that it has raised $12 million in an oversubscribed Series A round led by PeakSpan Capital, a Silicon Valley and New York-based investment firm focused on growth-stage B2B software companies. . Las Olas Venture Capital and other existing investors participated in the round, along with new strategic investors including Branded Strategic Hospitality.
Leasecake enables tenants, brokers and landlords to manage location-related services, from lease management and lease accounting to insurance contracts and franchise operations. Leasecake’s platform provides centralized access to rental and location information, integrating data from multiple sources to serve as a single source of truth for organizations on both sides of the market.
The shift to remote working during the pandemic has accelerated demand for business location management technology. Leasecake’s revenues grew fivefold in 2021 compared to the previous year, with customers ranging from single-site operators to companies managing more than 1,000 sites. The company plans to use the Series A funding to more than double its workforce over the next 18 months, create new platform offerings, and expand further in Europe and Latin America.
“Over the past year, we have seen significant demand from businesses of all sizes leveraging our solution to become more efficient, collaborative and agile,” said Taj Adhav, CEO and Co-Founder of Leasecake. “Our customers have immediately seen how our platform provides quick answers for significant competitive advantage, especially when it comes to the most important aspects of their business. The world is speeding up and the future of work means finding simple ways to take action on what matters. For our customers in the retail, office and industrial sectors, the future is now.
Streamline operations for efficiency and collaboration
Leasecake’s technology helps businesses – including private equity firms, franchisors and tenant companies, brokers and landlords – streamline operations, comply with new lease accounting standards, track contracts critical and urgent and to work more effectively with service providers. The challenge with siled legacy systems is that they are not intuitive and often cannot accommodate a mobile workforce. But with Leasecake, businesses of all sizes stay on top of their location portfolios – keeping tabs on lease and insurance renewals, tracking safety inspections, and managing business licenses.
“Members of our platform represent all aspects of the real estate lifecycle,” said David Schrader, chief product officer at Leasecake. “Technology allows them to collaborate and share data seamlessly with real estate brokers, accounting firms, lenders, lawyers and insurance brokers – parties supporting all facets of a lease or buy/sell transaction – so they can move quickly through due diligence, assemble accurate financial statements to close loans and close deals faster.”
Radiance Holdings, which owns beauty and wellness franchisors Sola Salon Studios and The Woodhouse Day Spa, offers Leasecake as a benefit to help their local franchisees and salons manage real estate operations.
“As the fastest growing Salon Studio franchisor in the country, we needed a location management solution to easily deploy the entire system across our 600+ locations,” said Nathan Jensen, CFO of Radiance Holdings. “To maintain our industry leadership, we want to be well ahead of the digitization curve in our back office. Using Leasecake has paid off: the platform is a powerful solution to help us scale and expand our footprint nationwide with quick responses on critical real estate and location details – all in a collaborative and intuitive platform that supports our franchisees. »
Specialized Retail, the retail subsidiary of Specialized Bicycle Components, uses Leasecake to manage its growing network of company-operated stores. The software is helping Specialized Retail’s small team keep pace with expansion — the network now includes 60 locations — as they onboard dozens of new sites. “Our infrastructure is still maturing, but Leasecake gives us the processes we need to manage rapid growth,” said Peter Robson, director of retail operations at Specialized Retail.
Leasecake’s pioneering platform
Phil Dur, co-founder and managing partner of PeakSpan Capital, said Leasecake is a perfect fit with the company’s strategy: to partner with entrepreneurs whose businesses address a large and strategic market, with a quality of exceptional product, a clear and intuitive value proposition, and a commitment to resilient value creation.
“We believe Leasecake is a pioneer in bringing location management excellence at scale to tenants, landlords and brokers,” said Dur. “The solution really shines when it comes to helping these constituencies manage multiple properties, offering a host of features and ease of use that allow these stakeholders to collaborate on the Leasecake platform. We are so energized by the opportunity to partner with the Leasecake team to capitalize on their extraordinary progress to date and build the definitive location management market leader.
Leasecake is the location management and rental operating system for private equity firms, franchisors, corporate tenants, brokers and landlords. The intuitive SaaS platform provides rapid responses, proactive awareness, and actionable insights for easy collaboration on all critical and time-sensitive events, simplifying productivity for distributed teams. As a platform for the future of work, the Leasecake Sharing Opportunity also supports service providers, adds value for their customers and helps businesses that rent or own space save time, minimize risk and better manage growth.
About PeakSpan Capital
PeakSpan Capital is a growth capital firm based in New York and San Mateo. Having partnered with over 30 high-growth software companies and with over $1.5 billion in assets under management, PeakSpan aims to be the partner of choice for growth-stage entrepreneurial teams building software. aimed at business buyers of all sizes. To learn more about PeakSpan Capital and its portfolio, please visit: www.peakspancapital.com.
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KEYWORD: UNITED STATES NORTH AMERICA FLORIDA
INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE TECHNOLOGY CONSTRUCTION & PROPERTY SOFTWARE RESTAURANT/BAR LODGING RETAIL DATA MANAGEMENT TRAVEL
SOURCE: rental cake
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PUBLISHED: 04/25/2022 00:01 / DISK: 04/25/2022 00:02