Operations

Leasecake raises $12M in funding

provided

April 26, 2022

Leasecake, a cloud-based operating system for lease and location management, has raised $12 million led by PeakSpan Capital, a Silicon Valley investment firm focused on growth-stage B2B software companies.
Las Olas Venture Capital and other existing investors participated in the round, along with strategic investors including Branded Strategic Hospitality. Leasecake will use the funding to grow headcount by 80% over the next 18 months, create platform offerings and expand further into Europe and Latin America, Taj Adhav, CEO and co-founder of Leasecake, said in a company press release.

"Over the past year we experienced significant demand from businesses of all sizes leveraging our solution to become more efficient, collaborative and nimble," he said. "Our customers immediately saw how our platform delivers fast answers for a significant competitive advantage, especially when it comes to the most important aspects of their business. The world is speeding up, and the future of work means finding easy ways to act on what matters. For our customers across the retail, office and industrial sectors — the future is now."

Leasecake allows tenants, brokers and landlords to manage location-related services, from lease management and lease accounting to insurance agreements and franchise operations, Adhav said about the software that provides centralized access to lease and location information, integrating data from multiple sources to serve as a single source of truth for organizations on both sides of the market.

The shift to remote work during the pandemic has accelerated demand for enterprise location management technology. Leasecake's revenue increased fivefold in 2021 compared to the previous year, with customers ranging from single-site operators to businesses managing more than 1,000 locations.

Streamlining operations for efficiency and collaboration

Leasecake's technology helps businesses streamline operations, comply with lease accounting standards, track contracts and collaborate more efficiently with service providers. The challenge with siloed legacy systems is that they aren't intuitive and often can't adapt to a mobile workforce, but with Leasecake, businesses of all sizes stay on top of their location portfolios, said David Schrader, chief product officer of Leasecake.

"Members on our platform represent every aspect of the real estate life cycle," he said in the release. "The technology lets them seamlessly collaborate and share data with real estate brokers, CPA firms, lenders, lawyers and insurance brokers — parties supporting all facets of a lease or buy/sell transaction, so they can quickly move through due diligence, assembling accurate financial statements to close loans and do deals faster."