NEW YORK, June 21, 2022 (GLOBE NEWSWIRE) — keyway, a technology platform radically simplifying commercial real estate transactions worth less than $20 million, today announced $25 million in Series A funding. The round was led by Camber Creek with participation from existing investors Canvas Ventures, Crosscut and Montage Ventures. Thomvest and Parker89 also took part in the round.
Keyway plans to use the funding primarily to invest in its technology and machine learning (ML) that are redefining how commercial real estate worth under $20 million is traded. The Company previously raised a $15 million seed round led by Canvas Ventures and over $100 million in debt financing.
Keyway is on track to complete four times more transactions in the first half than all of 2021. The company plans to facilitate at least $200 million in transactions by the end of the year, with an initial focus on sale-leaseback lies and extension solutions for medical, dental and veterinary practices. “We want to transform the evolution of medical practices by providing them with real estate solutions that help them achieve their goals, whether they are looking for liquidity, capital to expand, or building wealth through real estate,” said Matias Recchia , co-founder and CEO of Keyway.
“It is clear that technology has completely transformed the space for single-family homes. We see equally great potential in the commercial real estate space and are pleased that Keyway is leading the way,” said Jake Fingert, Managing Partner at Camber Creek. “We look forward to the progress the team will continue to make with this Series A round.”
“We have been impressed with Keyway’s growth since we led the last round and look forward to continuing to support Keyway’s position at the intersection of fintech and marketplaces,” said Rebecca Lynn, Managing Partner at Canvas Ventures.
Keyway greatly simplifies transactions under $20 million by reducing fees by 50% and transaction time by 90%, benefiting brokers, sellers and buyers alike. Keyway also fills an important gap for those institutional investors who are not structured to handle smaller deals but want to build diversified portfolios. Keyway handles sourcing, underwriting, underwriting and wealth management with a full technology stack.
Keyway offers fair pricing, speed, and transaction certainty for sale-leasebacks and expansions, giving smaller operators flexibility and a range of alternatives they might not otherwise have. “I wanted to free up capital to grow my business. Partnering with Keyway was exactly the solution I needed – I felt the bid and process were fair, simple and fast, allowing me to focus on my business,” said Seth Franz, founder of Great Lakes Behavioral Partners .
“Keyway’s platform was designed to offer creative and efficient real estate solutions to both investors and smaller operators,” said COO and co-founder Sebastian Wilner. “We see a tremendous product market suitable for our approach, which in turn drives our goal of being the country’s preferred platform for conducting commercial real estate deals worth under $20 million.”
To learn more about Keyway, visit whykeyway.com
Keyway is the commercial real estate platform that makes it easy for small and medium-sized businesses to achieve their goals quickly and predictably. The company begins with a sale-leaseback solution to provide business owners with capital to invest in their growth. The company was founded in 2021 and is headquartered in New York.
About Camber Creek
Founded in 2011, Camber Creek is an institutional venture capital firm that invests in and scales companies that are transforming the real estate industry. Over the past 11 years, the firm has established itself as a leading real estate technology venture, consistently delivering industry-leading returns to investors, growing the value of its portfolio of startups and generating successful corporate exits. Today, Camber Creek manages more than $600 million in assets with offices in New York, San Francisco and Washington, DC
About Canvas Ventures
Founded in 2013, Canvas Ventures is a boutique venture capital firm based in the San Francisco Bay Area with $835 million in assets under management. Canvas leads Series A investments in key areas including fintech (Brace, Gabi, Roofstock), digital health (Airvet, Vida), enterprise (Luminar/LAZR, Robocorp, Vendia), logistics (Transfix, MasonHub) and marketplaces (Darwin Homes). , Zoola). Rebecca Lynn, Paul Hsiao, Mike Ghaffary and Gary Little serve as general partners of the firm and they are also known for investments made prior to joining Canvas including Lending Club (LC), Doximity (DOCS), MuleSoft (MULE) , Check (inherited from Intuit), Upwork (UPWK), and Houzz.