Occupier, a company that helps businesses navigate the complexities of managing a portfolio of real estate leases, and ensure compliance with new accounting standards, has finalized a funding round of $5 million. The round is led by Alate Partners and MetaProp, with participation from Second Century Ventures, Thomson Reuters Ventures, and commercial real estate industry leaders across the U.S.
The company, founded in 2018 by VTS and JLL alums Andrew Flint, Matt Giffune and Erik Pearson, aims to bring innovation to the lease management, lease accounting and transaction management space for occupiers of commercial real estate and their tenant representation brokers. At a time when all businesses are being forced to re-evaluate their post-pandemic real estate operations, the company is experiencing rapid growth.
“Our vision is to be the place where commercial real estate happens online,” Giffune said. “The opportunity to eliminate the complexity, uncertainty, delay, and missed opportunities inherent in a historically off-line process for managing a company’s real estate is massive. Whether you oversee a portfolio of corporate, retail, or industrial locations, or are a brokerage team managing a pipeline of deals, Occupier puts you in position to make decisions that eliminate unnecessary costs and create flexibility and growth for your business.”
The Occupier platform connects all business stakeholders, internal and external, to a single source of real estate portfolio data, and allows them to collaborate on critical workflows for site selection, deal negotiation, lease management, and compliance with new FASB ASC 842 and IFRS 16 lease accounting standards. The company also provides client and deal management software to tenant representation brokers, allowing them to better serve their clients and drive transaction volume in a centralized system. Customers include DraftKings, Hopper, Shake Shack, Bluestone Lane Coffee, Bonobos, JLL, CBRE and T3Advisors.
Occupier will use the capital to scale its team, with immediate hires focused on product engineering, sales and marketing, accelerating their product roadmap in order to solve more problems for an increasingly wide range of stakeholders on both the tenant and broker sides of commercial real estate.
