Participated · Series B · Jan 2025

Jones provides AI-driven software to accelerate collection and verification of insurance certificates, endorsements, and policies, integrating bi-directionally with ERP systems. The company combines machine learning with human compliance experts to scale traditionally manual, error-prone processes. Jones has scaled to 25,039 real estate properties and construction projects covering over 2.5 billion square feet in the United States. Its product suite focuses on insurance verification, collection, integration, and decisioning across commercial and residential asset classes. Jones plans to release a suite of GenAI Agents fine-tuned on proprietary insurance data and millions of verified insurance documents to automate routine tasks and enable autonomous decision-making. The company also intends to continue expanding software workflows and deepening ERP integrations to reduce manual workloads and mitigate insurance claims.

Participated · Series A · Nov 2022

Runwise offers a vertically integrated smart control platform that automates building operations by combining proprietary wireless hardware with cloud-based software to optimize heating, cooling, electric, and water systems. The platform enables rapid deployment with a typical payback period of under five months and delivers measurable ROI and operational simplicity. Runwise is installed in more than 10,000 buildings across the U.S. and serves upwards of 1,000 customers, having saved customers over $100 million in energy costs to date. The company reports growth of over 30X since its seed round and says it is on track to nearly double again this year. Runwise plans to use new capital to support product innovation, expand its team, and enter new core markets. The company positions itself as a large private-sector reducer of carbon emissions and a leader in scaling smart infrastructure across real estate portfolios. Runwise provides building control services using intelligent, easy-to-install wireless hardware and software to optimize heating and other key building systems. Its platform is installed in over 4,000 buildings and serves almost 400 customers, including large owners and operators such as Related, Blackstone, Lefrak, Equity Residential, Fairstead, and Douglas Elliman. Runwise says its service controls key building systems in thousands of buildings across 10 states and delivered an average 20.1% reduction in fossil fuel emissions in retrofitted buildings last year. Energy savings typically pay for the system within a handful of months, and the company expects its growth this year will remove the equivalent of nearly 100,000 cars' worth of carbon emissions. Financially, Runwise has raised $19 million in a Series A and now has $24 million in total equity funding. The company plans to use the new capital to expand operations and deploy its technology more broadly across the U.S. to increase building efficiency, lower costs, and reduce fossil fuel emissions. Runwise develops wireless sensors and a controller computer that retrofit decades-old heating controls to reduce energy consumption and costs. Its sensors claim a 10-year battery life and the system takes charge of boilers and heating previously run by timers or static logic. The company says average install payback from reduced heating bills is around nine months. Runwise has been bootstrapping for a decade and its tech is already deployed in roughly 4,000 buildings serving more than 300,000 people. Customers include large real estate operators such as Related, Blackstone, Lefrak, Equity Residential, Douglas Elliman and Fairstead. The company plans to use new funding to enter a phase of hyper growth and pursue a vision of dramatically cutting building carbon and improving affordability at scale, targeting many more of the ~12 million U.S. buildings.

Participated · Seed · Mar 2022

Daybase operates a network of on-demand, professional-grade coworking locations designed for hybrid workers and companies. The company offers neighborhood workspots close to home and is developing tools to support hybrid work. Daybase opened its first location in Hoboken, New Jersey, which has welcomed more than 300 members. Two additional locations (Harrison, New York, and Westfield, New Jersey) are under development and set to open later this year, with nationwide expansion planned. The team is led by CEO Joel Steinhaus and COO Doug Chambers. The company says it will use new funding to expand its location network and build new hybrid-work tools.

Participated · Series A · Jul 2021

Founded in 2017 and based in New York, Jones curates a marketplace of pre-approved vendors for commercial real estate tenants and property managers and operates a SaaS platform that manages certifications and approvals. Its technology can process an insurance certificate in less than an hour, reduce vendor approval time from 12 days to 2.5 days, and achieve 99.9% accuracy versus roughly 30% for manual workflows. Jones already works with tens of thousands of vendors and said its SaaS tool has gained traction over the past 10 months. The company raised $12.5 million in a Series A led by JLL Spark and Khosla Ventures, bringing total capital raised to $20 million. It plans to use the funds for product development to enable quicker and easier approvals, to onboard more vendors, to build integrations and an API for other verticals requiring compliance, and to expand the team. Jones is recruiting hires with fintech, cybersecurity and insurtech backgrounds to broaden its capabilities. Jones provides real estate owners, managers, and builders with Software-as-a-Service tools and a pay-as-you-go insurance solution to manage contractor insurance and compliance. Its platform lets trade contractors obtain a certificate of insurance (COI) via smartphone and get it approved by enterprises within minutes. For trades that already have insurance, Jones automates the insurance compliance cycle to streamline approvals between enterprises and agents. The company is currently in beta with several large construction and real estate players, including ARCO Construction and JLL. Jones is licensed in 12 states and plans to expand to 30 states by the end of 2018. The company plans to use its new funding to launch a flexible-duration General Liability policy this fall in partnership with Chubb and marquee distribution partners in the construction and real estate industries.

Participated · Equity · Nov 2018

Funnel provides a renter-centric RMS platform that treats the renter — not the property — as the source of truth, enabling enterprise-wide visibility across the entire renter journey. Its completed front-office suite includes CRM, a virtual leasing agent, online leasing, onboarding, and a resident portal. The platform leverages AI and automation to reduce rote tasks, enable shared services and role specialization, and allow operators to move away from antiquated 1:100 leasing models to improve margins and team experience. Funnel says its centralized operating model is already embraced by eight companies that rank among the top 20 owners or operators, along with many other customers. The company is expanding its sales and marketing teams and recently added multifamily veteran Johnny Hanna to the team. Financially, Funnel announced a $32 million Series B-2 financing to expedite adoption of its new operating model. Funnel provides a full-stack, renter-centric leasing and marketing platform that centralizes leasing operations and automates the renter journey for multifamily owners and operators. Its product suite includes Engage (CRM and lead management), Amplify (natural language virtual leasing agent), Convert (online leasing with instant income verification via a FinTech integration), and Signal (listing syndication and data capture). The company emphasizes placing the renter at the center of interactions to improve leasing efficiency, reduce operational costs, and optimize marketing spend. Funnel has expanded from an apartment marketing platform founded in 2010 to a broader end-to-end leasing solution since 2018. The business reports 115% year-over-year revenue growth and has doubled headcount from 40 to 80; its platform is used by 17 of the NMHC Top 50 and Engage is deployed by 5 of the NMHC Top 20 owners. Funnel plans to develop renter onboarding, resident portal, and retention tools to complete the end-to-end renter journey. Nestio offers a next-generation marketing and leasing automation platform that streamlines the entire rental process for multifamily owners, operators and renters. The platform centralizes inventory distribution, lead tracking and management, renter engagement and touring, and delivers advanced real-time reporting within a single dashboard. Enhancements include automated workflows and machine learning to expedite responses and improve efficiency across the leasing lifecycle. CEO Caren Maio, who founded the company from a renter’s perspective, says the product aims to make finding and renting an apartment as easy as booking a hotel or restaurant. Nestio’s customers manage hundreds of thousands of listings across major U.S. markets including New York, Boston, Chicago, Houston and Dallas. The company emphasizes delivering effortless, on-demand and personalized experiences for renters while improving operator efficiency. Nestio began as a renter-focused tool and has evolved into a full-service leasing and marketing platform for residential landlords and brokers. The product allows customers to manage inventory, track leads, advertise listings, and communicate in real time with consumer-facing sites such as Trulia and Zillow. Nestio says it now originates half of New York City’s rental listings and has generated over $20 million in additional revenue for clients. The company is currently live in NYC and plans to expand to Boston, Chicago, Miami and Washington, D.C. New funding will be used to execute that geographic expansion, advance the product roadmap, and grow the sales, marketing, and engineering teams. The company also announced the addition of Scott Wolfgang as CFO; he previously worked at Quotidian Ventures and served on the Hootsuite board. Nestio launched out of TechStars in 2011 as a consumer-facing apartment search tool but pivoted in 2013 to focus on landlords and brokers. It builds back-end tools that let landlords and brokers constantly update inventory and availability in real time, replacing workflows that relied on Google Docs, faxes, phone calls and paper files. The platform has been adopted widely in New York and now handles more than 30 percent of New York’s rental market. The Real Estate Board of New York named Nestio’s platform one of four approved technology vendors. The company says it is operating “above the line” and is growing rapidly in the real estate community. Recent funding will be used to accelerate growth and add hires, predominantly on the sales side.