RealConnex, a platform connecting the commercial real estate community to capital, investments and services, announced it has raised $3.5 million in strategic financing in a round led by Silver Portal Capital, a San Diego-based real estate investment and merchant banking firm.
RealConnex, founded in Miami in 2013 by real estate developer Roy Abrams, aims to help real estate developers connect with the right capital sources, service providers and one another. Abrams, the CEO and a 25-year veteran of the technology and real estate industries, said the new funding will be used for marketing, to expand the leadership team, and to add new features to the platform. In total, the company has raised $10.2 million.
The company, based in New York and Miami, has 65,000 active users and a database of 200,000 companies, individuals and funds. Abrams said RealConnex will likely have 6,000 registered capital sources, 9,000 investment opportunities, and more than $1 billion worth of transacted deals by the end of 2017.
Silver Portal Capital, a boutique firm focused exclusively on real estate, will adopt RealConnex's technology platform throughout its organization and channel partners to drive business growth.
"We see a significant competitive advantage in working with a technology partner like RealConnex," said Jean-Louis Guinchard, senior managing principal of Silver Portal Capital, in a news release. "They intimately understand professional real estate and technology, and they are poised to affect the market in a material way. Our investment will help the company scale into the largest real estate professional network."