Workframe, a communication and collaboration platform designed for commercial real estate professionals, announced that it has raised $9.5 million in Series B funding. CRE advisory firm Newmark Knight Frank (NKF), which plans to start using Workframe across its nationwide service lines, led the round. The venture capital arm of the real estate technology firm MetaProp also offered financing along with Venrock, a well-known venture capital firm and a repeat Workframe investor in Workframe.
Entrepreneurs Robert Moore, Andy Parsons and Matthew Smith founded Workframe after getting irritated with the process of building out and operating the office space from earlier ventures. They vowed to find a better way. The three of them created Workframe, a software application based on the web that offers a portfolio-level view of initiatives, providing large corporate tenants, landlords, brokers and service providers with insight and control over work workflow, and delivering data that lets them become more cost-effective and efficient.
“NKF’s strategic investment will enable us to grow our team and realize our product vision,” said Moore, Workframe’s CEO. “As one of the largest and most forward-thinking real estate advisory firms in the world, NKF’s backing speaks volumes about the value of our solution. Our partnership represents a significant step toward becoming the singular workflow and collaboration solution for the entire commercial real estate industry.”
“We’re always seeking compelling technology solutions that can enhance our productivity and efficiency, and have never encountered a solution with as much potential to transform the industry as Workframe’s,” said Barry Gosin, Newmark Knight Frank’s CEO. “The Workframe platform will enable us to deliver better service to our clients by accelerating project timelines and simplifying the leasing process for tenants and landlords alike.”
“As a VC focused exclusively on real estate technology, we’ve backed dozens of CRE tech startups, but few of them address common challenges as deftly as Workframe,” said Aaron Block, Co-Founder & Managing Director of MetaProp. “The platform’s ability to create measurable efficiency across the universe of real estate projects will secure Workframe’s place as a leader in the PropTech space.”
The company has filled outs its leadership team with senior industry professionals in the CRE industy, including people with brokerage, management and architectural backgrounds.
“As a former Director of Real Estate and tenant-rep broker, I have direct experience with the challenges we are trying to overcome,” said Dan Suozzi, Workframe’s Chief Revenue Officer. “Our solution will transform the way that real estate professionals work, and I’m thrilled to be a part of this incredibly talented team.”