Company: Honest Buildings
Source: National Real Estate Investor
NEW YORK CITY – Honest Buildings, the leading online marketplace and business development engine for building professionals, today announced that it has secured $4 million in Series A-1 Financing from a group of investors led by Thrive Capital, a private equity and venture capital firm founded by Joshua Kushner that focuses on technology investments. The financing, which also includes participation by investors Westly Group and RockPort Capital, coincides with Honest Buildings’ announcement that Jared Kushner, CEO of Kushner Companies, a diversified private real estate organization, has joined Honest Buildings’ board on behalf of Thrive.
The new financing is a testament to Honest Buildings’ momentum in the marketplace and will enable the company to further strengthen its service offerings, including its flagship product, HB Match, an online platform that drives transactions by pairing building owners with qualified building professionals. Since the beginning of the year, approximately $55 million in contracts have been originated through HB Match, including $30 million in contracts originated in the past five months alone.
By providing a simple web platform for building professionals to create free, online portfolios of their work, Honest Buildings is able to run custom searches on behalf of real estate decision-makers and produce detailed evaluations of experienced specialists appropriate for the project. The result is an efficient, enhanced process for building owners to quickly and thoroughly compare, vet and select the best building professional for the specific requirements of their projects, saving valuable time and resources.
“We are thrilled to have the backing of Thrive Capital. The firm’s successful investment track record in the digital space is immense validation of Honest Buildings’ ability to innovate an underserved sector by creating a new model and greater efficiencies for the multi-trillion dollar commercial building improvement industry,” stated Riggs Kubiak, co-founder and CEO of Honest Buildings. “We are similarly excited to welcome Jared to our board. As one of the business’ most prominent real estate owners, Jared brings tremendous value to our organization through his hands-on, practical industry experience and deep understanding of the importance of technology to the real estate business. We are confident that his insight will greatly contribute to our continued growth and momentum.”