Proptech startup raises money to compete with Dealpath
Nativ’s Atlas moves into growing deal management software space
A competitor to Dealpath’s transaction management software has wrapped a new funding round.
New York-based Nativ closed a $3 million seed round to help the startup grow its workflow software Atlas, co-founders Jeff Saul and Adam Kerr told The Real Deal. The round was led by San Francisco-based VC investor Bling Capital, which has backed other proptech companies like CompStak and VTS.
“We think we can really vie to be the leading deal management platform for commercial real estate,” Saul said.
Deal management software is a growing sector in the proptech space, combining the various programs and data that investors, lenders and brokers use throughout the lifecycle of a deal into one platform.
Industry leader Dealpath — which claims its platform has helped clients close $5 trillion in deals — is backed by the likes of Blackstone, JLL Spark, LeFrak and Milstein, among others.
Saul and Kerr founded Nativ in 2018 and launched the Atlas software a year later. The platform is aimed primarily at lenders, but is crossing over into the equity space. Early users include AllianceBernstein, Silverstein Capital Partners, Benefit Street Partners and Prime Finance.
Saul said the seed round values Nativ at around $14 million. The company will use the new funding to double the size of its 12-person team.