With $22 Million in Funding, Hightower Sees Rapid Adoption of Its Leasing Management Platform
NEW YORK CITY, August 20, 2015 – Hightower, a leasing management platform for the commercial real estate industry, today announced several new strategic investors, including Newmark Grubb Knight Frank Corp; Barry Sternlicht, CEO of Starwood Capital; Bill Rudin, CEO of Rudin Management Company; and returning investor Aaron Levie, CEO of Box.
To date, Hightower has raised $22 million in venture backing, including funding from institutional investors such as RRE Ventures, Bessemer Venture Partners and Thrive Capital, solidifying its position as a recognized leader in the commercial real estate tech industry. The company has successfully built a platform that optimizes commercial leasing and is transforming how brokers, owners, asset managers and landlords do business. The financial and strategic backing from these leading commercial landlords and brokerage firms demonstrates the impact Hightower is having on the industry.
“Hightower is at the forefront of bringing technology to the commercial leasing process,” said Bill Rudin, vice chairman and CEO of Rudin Management Company. “We took a good look at the various options in the market and truly felt that Hightower offered the best platform for our business. We have observed Hightower’s growth within the industry, and we are excited to be involved in that growth as a strategic partner.”
Founded in 2013, Hightower provides web-based software that helps commercial brokers and owners more effectively manage their end-to-end leasing process – reaching prospects, converting prospects to tenants, and managing overall portfolio performance. The platform brings today’s disparate data and activities onto a single interface that is intuitive, collaborative and accessible from any device.
“Commercial owners and brokers are transforming the way they work with Hightower, and we’re thrilled to see the attention it is receiving from these strategic investors because it demonstrates a commitment from thought leaders in the industry,” said Brandon Weber, CEO of Hightower. “We’re excited to accelerate the adoption and development of our platform with the help of industry leaders that believe in our ability to deliver real innovation to commercial real estate. For decades, the industry has had to make do with antiquated tools to manage their commercial leasing business. We’re bridging that gap for our clients by providing one platform that allows them a consolidated view of their entire portfolio.”
Since launching last year, Hightower’s cloud-based platform has grown to power the leasing business of thousands of brokers and owners in every major U.S. market, including some of the most iconic commercial real estate properties in the country. In the coming months, Hightower plans to invest in scaling its team, accelerating its product development and establishing its international footprint as well as bringing industry-first features to the Hightower platform.
About Hightower
Founded in July 2013, Hightower is a web-based leasing management platform that helps commercial real estate brokers and owners more effectively manage their end-to-end leasing process. By bringing today’s disparate data and activities onto a single platform that is intuitive, collaborative, and accessible from any device, Hightower allows brokers and owners to reach prospects, convert prospects to tenants, and manage overall portfolio performance. Hightower is the brainchild of technologist turned commercial real estate exec, Brandon Weber, who founded the company with Niall Smart and Donald DeSantis. Investors comprise some of the most prominent names in commercial real estate, entrepreneurship, and venture capital including: RRE Ventures, Thrive Capital, Bessemer Venture Partners, Pritzker Group Venture Capital, David Tisch (Boxgroup) and Aaron Levie (Box.com).
