A commercial real estate startup that makes software for brokerages landed an investment from private equity firm The Riverside Company this week.
Buildout, which makes software that manages the entire deal process of a property, received an undisclosed investment from the New York-based PE firm. The investment follows an $8 million Series A round it raised in 2017 from Susquehanna Growth Equity.
The startup's software also helps brokers manage their contacts and prospects, automates marketing materials, and makes it easier to share transactional documents.
Founded in 2010, Buildout says it has 37,000 active users, and it counts brokerages like Avison Young, JLL, KW Commercial and RE/MAX Commercial among its customers.
Buildout now has 80 employees, up from 30 three years ago. With the new funding, the company says it plans to add to its team, develop new products, and potentially acquire companies.
“I believe Riverside’s depth of resources and experience investing in subscription software businesses will help Buildout realize its vision of becoming the most trusted name in commercial real estate brokerage software," CEO Vishu Ramanathan said in a statement.
