The Real Deal New York

Honest Buildings raises $13M from Brookfield, Rudin, others in Series B round

Previous investors include Joshua Kushner, Milstein family
By Konrad Putzier | October 11, 2017 12:40PM

Bill Rudin, Riggs Kubiak and Ric Clark

UPDATED, Oct. 12, 9:48 a.m.: Construction management software startup Honest Buildings raised $13 million in a Series B funding round that included Brookfield Property Partners, Rudin Ventures and C-III Capital Partners, the company announced Wednesday.

Venture capital firms Navitas Capital, Greensoil Building Innovation Fund, Bienville Capital Management and Riverpark Funds also took part in the round along with previous investors The Westly Group, Rockport Capital, Circle Ventures and Thrive Capital.

Honest Buildings, founded by Riggs Kubiak in 2012, is an online construction project management platform for landlords and developers, allowing them to manage and solicit bids from contractors and oversee budgets, among other features. It started off as a “Linkedin for real estate” matching developers with architects and construction firms before it changed its business model in 2015.

The latest round brings its total venture funding to around $30 million, according to Crunchbase. In June 2015 it raised $5 million in a Series A-2 round led by the Milstein family’s venture arm, Circle Ventures.

Honest Buildings says its customers include Brookfield, Invesco, Beacon Capital Partners, the Durst Organization, Silverstein Properties, Harvest Properties, Divco West and Washington REIT.

“We have seen valuable cost and time efficiencies driven by its platform as we continue to roll it out across our portfolio,” Brookfield’s real estate head Ric Clark said in a statement.

Correction: Rudin Ventures, the venture investment arm of the Rudin family, invested in Honest Buildings — not Rudin Management.