EXtrance, a tech startup serving primary sponsors and their investors in commercial real estate limited partnerships, announced the closure of their seed round of funding. After raising $850K, the principal of which was a pre-IPO investor in Apple, MasterCard, Amazon, and Control Data, it has opened up an additional $150K round for strategic partners. Throughout 2021, EXtrance raised capital to develop an all-in-one investment management platform with AI integration, machine learning, and blockchain technology to automate back and middle office functions and facilitate commercial real estate investments.
According to EXtrance founder William Lively, they expect to raise another $125K from individuals with a vested interest in the company and potential clients. Lively states, “Our platform is a holistic approach to solving all of the problems commercial real estate investors face, including that of illiquidity.” Early rounds of funding have allowed Lively to bring his platform into the fold. “These milestones have brought us into full-stack development with our NYC-based technology partner, Unified Infotech.”
Recommended AI News: LINK Mobility Announces Mobile Communication Agreement with Eversource
EXtrance aims to provide incentives to generate interest and avoid potential investor-vendor conflicts.
- They look to offer rebates on investments for firms or individuals that become customers.
- EXtrance recently secured beta testing for strategic capital investors looking to utilize the software.
In the upcoming months, EXtrance intends to use the strategic capital to grow its team, invest in human resources, and expand its marketing budget, the company claims. Currently, they’ve expanded their board of advisors with two notable inclusions – Rajiv Tandon, Ph.D., a serial entrepreneur and one of Twin Cities Business Magazine’s “200 Minnesotans You Should Know”, and veteran real estate professional Marc Occhiuti.
“We’re really proud to be working with an advisory board that boasts exceptional legal, real estate, banking, and investment experience and expertise.” says Lively.
Recommended AI News: Oasis Announces Exclusive Partnership with Venio Systems
[To share your insights with us, please write to sghosh@martechseries.com]
Comments are closed.