RealtyMogul.com, the online marketplace for real estate investing that connects borrowers and sponsors to capital from accredited and institutional investors has just announced a $35M Series B round to further finance its impressive growth. Over the last year the company has gone from 10 employees to 80. The platform serves as a frictionless and transparent conduit for both equity and debt transactions and has decimated the financing time associated with these deals. The company has 17,000+ members using the service and has helped finance more than $500M in transactions.
We had a chance to catch up with CEO Jilliene Helman hot off the heels of the funding to discuss the funding and what’s next for the company.
Who were your investors and how much did you raise?
This was our Series B round led by Sorenson Capital with Canaan Partners who led our Series A financing.
Tell us about your product or service.
We are an online marketplace for real estate investing, connecting borrowers, and sponsors to capital from accredited and institutional investors.
What inspired you to start the company?
I grew up in a family of entrepreneurs and always knew I wanted to be an entrepreneur. I was inspired by the inefficiencies in real estate capital markets and companies like Lending Club that were using technology to change traditional financial services.
How is it different?
We are originating debt and equity transactions online – using technology to facilitate real estate transactions across investors and real estate companies.
What market you are targeting and how big is it?
The market we serve is the $11 trillion US commercial real estate market.
What’s your business model?
The platform charges an origination fee and a servicing fee.
What was the funding process like?
During the process, we have a number of great conversations with some very smart venture investors.
What are the biggest challenges that you faced while raising capital?
Being in two places at once – running the business in LA and raising capital while on the road at the same time.
What factors about your business led your investors to write the check?
A great executive team, traction and vision.
What are the milestones you plan to achieve in the next six months?
We’re starting by getting new office space for our headquarters in Los Angeles! Then we plan to launch offices in Atlanta and Texas. Beyond that, we’re focused on growing the team – hiring technologists and data scientists, and increasing production while maintaining strong credit quality.
What advice can you offer companies in Los Angeles that do not have a fresh injection of capital in the bank?
Execute.
Where do you see the company going now over the near term?
Continuing to grow our bench of talent.
What’s your favorite LA bar, when you need to kick back and relax?
I don’t drink much, and I’m terrible at relaxing.
