Re-Leased, the cloud-based commercial property management platform is raising USD$15M in a funding round led by JLL Spark, the venture capital arm of the global real estate leader JLL. The strategic investment will be used to drive Re-Leased’s growth in key international markets, invest in its core software platform, and launch a series of new products and partnerships that will further solidify the company’s position as a leader in commercial property software.
Re-Leased is used by thousands of commercial real estate companies around the world to manage their property portfolios. The platform has transformed a traditionally slow-moving industry with a modern, cloud-based product, which integrates with other leading platforms such as Xero, QuickBooks, Sage, Netsuite and Stripe. With a strong focus on workflow automation and user experience, Re-Leased saves its customers’ administration overheads by up to 75%. It is now used to manage over 50,000 properties and 100,000 leases worldwide.
JLL Spark is dedicated to transforming the real estate industry through technology-based innovation with strategic proptech investments. This partnership will provide Re-Leased with ongoing support from JLL’s industry-leading experts, bolstering the cloud software platform’s innovation capabilities and providing access to JLL’s global networks.
Kitty Sullivan, Principal, JLL Spark, said: “Re-Leased’s cloud-native software is disrupting the status quo, revolutionising the way its customers run their businesses. We are confident in the platform’s potential to push the envelope of digital transformation for the sector and look forward to supporting its global growth.”
Originally founded in New Zealand in 2013, the Re-Leased team has grown to more than 150, with 50 new team members joining in the past year alone. The company now has offices across the UK, Australia, New Zealand and the US.
Backed by the new funding, Re-Leased plans to invest significantly in product development to fuel expansion in the US, Asia Pacific and UK markets, whilst also launching exciting new products that will transform payments, insurance, data and ESG for the commercial real estate sector. The investment will also allow the company to build further integrations with new partners from JLL’s expansive network.
Tom Wallace, Re-Leased’s CEO, said: “We are thrilled to have JLL Spark behind us as we embark on a new stage of global growth and product innovation.
At Re-Leased, we believe in the power of technology to shape the future of commercial real estate to drive better outcomes for people, property and the planet, and JLL Spark’s backing is a strong validation of this vision and the platform we’ve built.
Commercial real estate needs to adapt to remain relevant and thrive in a post-pandemic world. This investment and partnership with JLL Spark will help to cement our place as a global leader in this technological shift.”