Month: January 2019
Sandalphon follows-on in Truss’s $15m Series A-2 led by General Catalyst
With $15 Million Series A-2, Truss Expands its Tech-Enabled Commercial Real Estate Platform
Current Round Led by General Catalyst with Participation from Former Priceline Executives
CHICAGO and BOSTON, Jan. 17, 2019 /PRNewswire/ — Truss, a leading marketplace for commercial real estate, today announced its Series A-2 funding round of $15 million. The round was led by General Catalyst, which has also invested in groundbreaking marketplace technology companies like Airbnb, ClassPass and Deliveroo, along with supporting investors including Navitas Capital, Hyde Park Angels and Hyde Park Venture Partners. Truss continues to receive significant interest from tech leaders, including Robert “Bob” Mylod, former Priceline executive and Redfin’s chairman, who will join the board of directors. Jeff Boyd, former CEO of Priceline and managing director of Brothers Brook, participates in the round as an investor.
Truss has more than 30,000 spaces in office, coworking, industrial and retail space available to search, tour and lease on its marketplace platform. Truss is the only company to offer complete price transparency to prospective tenants during the search process. Small business owners can take 3D virtual tours of the different spaces, which saves them time and helps them visualize the space without needing to visit it in person.
“As Truss continues to grow, we will continue our commitment to providing price transparency and increased efficiency for small business owners looking for the perfect space for their businesses,” said Tom Smith, co-founder of Truss. “The increased resources will allow us to expand into more markets and grow our team, in turn yielding more available spaces in more places to our customers.”
Truss’ Series A-2 funding follows its strong earnings with 23 times revenue growth in the last 12 months. The announcement also follows their most recent recognitions and awards from Chicago Innovation and CREtech.
“The Truss marketplace offers small business owners greater speed, simplicity, and transparency in their search for new real estate. On the other side, Truss provides higher volumes and more qualified leads to brokers and owners,” said Adam Valkin, managing director at General Catalyst. “The company’s momentum in its first nine markets, driven in part by its AI-driven chatbot interface, suggest that real value is being unlocked for all parties.”
To learn more about Truss, visit www.truss.co.
More about Truss
Truss helps small and medium businesses, find, lease and tour office, industrial and retail space with more than 300 million square feet available in Chicago, Boston, South Florida, D.C., Maryland, Northern Virginia, Houston, Dallas, San Antonio and Austin. The business owner can search for the space from their own computers or mobile devices. Truss’ technology enables business owners to find the right space in a convenient and easy manner. Truss also offers dedicated brokers who act as the point person throughout the seamless process. To learn more about Truss, visit www.truss.co or follow them on social media on Facebook, Instagram and Twitter.
More about General Catalyst
General Catalyst is a venture capital firm with approximately $5B raised to date that makes early-stage and transformational investments. We back fearless entrepreneurs who are building market-leading technology companies like Airbnb, BigCommerce, ClassPass, Datalogix, Datto, Demandware, Gusto, The Honest Company, HubSpot, KAYAK, Oscar, Snap, Stripe, and Warby Parker. With offices in San Francisco, Palo Alto, New York City and Boston, our portfolio companies benefit from a bicoastal network of talent, customers, and opportunity. For more: www.generalcatalyst.com.
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