Source: GlobeNewswire (MIL-OSI)
NEW YORK, June 21, 2022 (GLOBE NEWSWIRE) — Keyway, a technology platform that radically simplifies sub $20M commercial real estate transactions, today announced $25 million in Series A funding. The round was led by Camber Creek with participation from existing investors Canvas Ventures, Crosscut, and Montage Ventures. Thomvest and Parker89 also participated in the round.
Keyway plans to use the funding primarily to invest in its technology and machine learning (ML) that are redefining how sub-$20M commercial real estate is transacted. The company previously raised a $15M seed financing round led by Canvas Ventures and over $100M in debt financing.
Keyway is on track to transact four times more volume in the first half of the year than in all of 2021. The company has plans to facilitate at least $200M in transactions by the end of the year, with an initial focus on sale-leaseback and expansion solutions for medical, dental and veterinary practices. “We want to change the trajectory of medical practices by providing them with real estate solutions to help them achieve their goals, whether they are looking for liquidity, capital to expand, or building wealth through real estate,” said Matias Recchia, co-founder and CEO of Keyway.
“It’s clear that technology has completely disrupted the single family housing space. We see equally large potential in the commercial real estate sector and we are excited about Keyway leading the way,” said Jake Fingert, Managing Partner at Camber Creek. “We look forward to the strides the team will continue to make with this Series A round.”
“We’ve been impressed with Keyway’s growth since leading the previous round and are thrilled to continue to support Keyway’s position at the intersection of fintech and marketplaces,” said Rebecca Lynn, Managing Partner at Canvas Ventures.
Keyway dramatically simplifies sub $20M transactions by reducing fees by 50% and transaction time by 90%, benefiting brokers, sellers, and buyers alike. Keyway also fills an important gap for those institutional investors that are not structured to handle smaller deals but are looking to build diversified portfolios. Keyway handles sourcing, underwriting, closing and asset management with a full technology stack.
Keyway offers fair pricing, speed and certainty of closing for sale-leasebacks and expansions, providing smaller operators flexibility and a range of alternatives they wouldn’t otherwise have. “I was looking to free up capital in order to expand my business. Partnering with Keyway was exactly the solution I needed – I was confident that the offer and process were fair, easy and fast, so I was able to stay focused on my business,” said Seth Franz, Founder, Great Lakes Behavioral Partners.
“Keyway’s platform is built to provide creative and efficient real estate solutions to both investors and to smaller operators,” said COO and co-founder Sebastian Wilner. “We’re seeing tremendous product-market fit for our approach which, in turn, is advancing our aim to be the country’s preferred platform for transacting sub $20M commercial real estate deals.”
To learn more about Keyway, visit whykeyway.com
Keyway is the commercial real estate platform that makes it easy for small and medium businesses to quickly and predictably achieve their goals. The company is starting with a sale-leaseback solution to provide business owners capital to invest in their growth. The company launched in 2021 and is headquartered in New York.
About Camber Creek
Founded in 2011, Camber Creek is an institutional venture capital firm investing in and scaling companies that are transforming the real estate industry. Over the past 11 years, the firm established itself as the premier real estate technology venture firm by consistently delivering industry-leading returns to investors, driving value for its portfolio of start-ups, and generating successful company exits. Today, Camber Creek has more than $600 million in assets under management with offices in New York, San Francisco, and Washington, D.C.
About Canvas Ventures
Founded in 2013, Canvas Ventures is a boutique venture capital firm based in the San Francisco Bay Area with $835 million in assets under management. Canvas leads Series A investments in key areas including Fintech (Brace, Gabi, Roofstock), Digital Health (Airvet, Vida), Enterprise (Luminar/LAZR, Robocorp, Vendia), Logistics (Transfix, MasonHub), and Marketplaces (Darwin Homes, Zola). Rebecca Lynn, Paul Hsiao, Mike Ghaffary, and Gary Little serve as the firm’s general partners, and they are also known for investments made prior to joining Canvas, including Lending Club (LC), Doximity (DOCS), MuleSoft (MULE), Check (acquired by Intuit), Upwork (UPWK), and Houzz.