TMCnet News
Dealpath Launches Intelligent Software Platform to Power Deal Management for $15 Trillion Commercial Real Estate IndustrySAN FRANCISCO, Oct. 5, 2016 /PRNewswire/ -- Dealpath, the deal management and collaboration software platform for commercial real estate (CRE) investment and development teams, launched today to simplify deal tracking and enable better investment decisions. Dealpath also announced it has raised $8 million in Series A financing from top tier venture firms and industry leading operators including Formation8, LeFrak, Milstein, Bechtel, Goldcrest Capital and Deep Fork Capital. The $15 trillion commercial real estate industry has depended upon traditional spreadsheets, paper checklists, and unmanageable information and document control challenges to inform deal teams about critical acquisition, development and financing decisions. With the introduction of Dealpath, CRE deal teams can now centralize tasks, files, communications and reporting in one organized platform that is instantly searchable, enabling easy and secure collaboration. These teams can now minimize administrative overhead and avoid the inaccuracies that come with manual updating and reconciling between services. "Commercial real estate is a massive industry and a critical part of our economy that has been vastly underserved from a technology standpoint," said Michael Sroka, CEO of Dealpath. "With so much at stake, it's important to have processes and tools designed for the challenges of this work. Multi-billion dollar institutional portfolios and deals that can be measured in the tens and hundreds of millions of dollars should not be conducted in Word document checklists and Excel spreadsheets that are emailed back and forth. At Dealpath we have made it our mision to provide CRE deal teams with the tools, resources, and information they need to create and capture value." The platform features functionality purpose-built for the demands of complex CRE deal management. From creating centralized deal data with repeatable processes and appropriate visibility and accountability, to efficiently distributing and tracking work with deal team members, the system is designed with a consumer-grade software approach. "The Dealpath platform is already being used by highly respected and successful commercial real estate enterprises with great success," said Joe Lonsdale, from 8VC, who led the Series A financing as a follow-on from Formation 8. "8VC is proud to be working closely with the expert and deeply talented Dealpath team." Industry leaders from Millennium Partners and Cypress Equities, as well as specialty CRE investment firms like U.S. Restaurant Properties are examples of the more than 100 firms with teams using the platform. Dealpath is easily accessible and can be adopted by individual professionals and teams in a self-service model, and is also available in customized versions for larger enterprises with hundreds of users. Dealpath can be set up in minutes and its open platform design allows it to seamlessly incorporate data from other services like Esri, Outlook, Google, Box, Dropbox, and Yardi. "The increasingly competitive and complex CRE industry requires world class execution. Dealpath gives me the visibility and controls I need to effectively drive a pipeline of opportunities," said Bill Frazer, Managing Director of RCREF. "From sourcing and underwriting through diligence, closing and beyond, Dealpath puts the information I need at my fingertips. It's a very powerful platform delivered through an interface that teams want to use." Founded in 2014, Dealpath is led by an experienced team of executives from ASB Real Estate Investments, Hudson Advisors, Lone Star Funds, Palantir, and Zynga. Founder and CEO Mike Sroka, began his career working for a large real estate private equity firm and has spent the past decade growing venture-backed software companies and services used by millions of people. About Dealpath
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/dealpath-launches-intelligent-software-platform-to-power-deal-management-for-15-trillion-commercial-real-estate-industry-300339492.html SOURCE Dealpath 
|