Lev raises $30M Series A round

CRE financing platform says it is valued at $130M

New York /
Jul.July 20, 2021 06:00 AM
Lev Capital raises $30M Series A round

Yaakov Zar and Greenspring Associates’ Hunter Somerville (Photos from Lev and Greenspring Associates)

New York City–based Lev completed a $30 million Series A funding round to help expand its commercial real estate finance platform.

The two-year-old startup, which uses data and automation to help building owners compare and secure financing, raised the funds from venture capital firm Greenspring Associates and First American Title.

Previous investors including NFX, Canaan Partners, JLL Spark, Animo Ventures and Ludlow Ventures all participated in the new round as well.

Lev co-founder Yaakov Zar said the round, which values the company at close to $130 million, will be used to hire more engineers and product designers in New York City, Miami and Los Angeles.

“Our focus is really to continue to build out our technology that will help our customers get the best experience,” he said.

Zar, who sold his previous logistics-management startup in 2018, co-founded Lev a year later with former Toll Brothers capital-markets specialist Sammy Greenwall.

The company facilitated about $100 million worth of loans last year and is on track to do $1 billion worth of deals this year, according to Lev.

In March, the company raised $10 million from JLL Spark and former executives from Trulia and LoopNet.

Lev has also been hiring commercial real estate veterans. In January, it picked up Justin Piasecki from Avison Young as a managing partner to help lead the firm’s strategic growth.

It also tapped Eastdil Secured https://therealdeal.com/new-research/topics/company/eastdil-secured/ and HFF veteran Greg Goldstein to lead the expansion of its second Los Angeles office.

Correction: A previous version of this article gave an incorrect figure for Lev’s valuation.





    Related Articles

    arrow_forward_ios
    With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)
    Real estate stocks push up this week as U.S.-China trade tensions ease
    Real estate stocks push up this week as U.S.-China trade tensions ease
    Eric Gordon
    Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
    Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
    Big Tech locations in NYC
    MAP: Here’s a look at all the Big Tech locations in NYC
    MAP: Here’s a look at all the Big Tech locations in NYC
    The Hayworth condo project and Chris Hohn of Children’s Investment Fund Management (Getty, The Hayworth)
    Ceruzzi affiliates agree to $29M judgment over troubled Hayworth condo project
    Ceruzzi affiliates agree to $29M judgment over troubled Hayworth condo project
    David Bitton, CMO and co-founder of DoorLoop and Ori Tamuz, CEO and co-founder of DoorLoop (Bitton, DoorLoop, Getty)
    Startup DoorLoop to take on goliaths in rental management software
    Startup DoorLoop to take on goliaths in rental management software
    Procore CEO Tooey Courtemanche (Procore, Getty)
    Procore acquiring construction management startup Levelset for $500M
    Procore acquiring construction management startup Levelset for $500M
    Blueground CEO Alex Chatzieleftheriou (Getty, LinkedIn via Chatzieleftheriou)
    Blueground raises $140M in Series C equity, valuing startup at $750 million
    Blueground raises $140M in Series C equity, valuing startup at $750 million
    Gravity CEO Moshe Cohen and Related CEO Jeff Blau (Getty, Gravity)
    Related partners with electric vehicle startup to bring charging stations to NYC
    Related partners with electric vehicle startup to bring charging stations to NYC
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...