• Fri. Dec 9th, 2022

Valcre, the Leading Commercial Real Estate Appraisal Software, Raises $12.7M in Series A Funding Round

ByWillie M. Evans

Nov 15, 2022

SAN DIEGO–()–Valcre, the commercial real estate industry’s leading valuation platform, today announced a $12.7 million Series A funding round led by Avenue Growth Partners with participation from Second Century Ventures. The investment will support the team’s rapid growth and product innovation while deepening Valcre’s commitment to streamlining evaluation workflows in the United States, Canada and Australia.

“Valcre has been a disruptor in the assessment industry for over half a decade, but the explosion of interest in our offering over the past two years has proven that the need is greater than ever for software assessment workflow,” said Valcre Co-founder and CEO Lucas Rotter. “We are excited to partner with Avenue Growth Partners and Second Century Ventures to help grow our business and remain focused on solving problems for the commercial real estate appraisal community. Seeded from the beginning, we patiently identified the right partners who understood our business and could help us thrive.

Over the past 12 months, Valcre’s products have been used to facilitate over 50,000 commercial real estate appraisals. Clients appreciate the faster turnaround times and the ability to perform the widest variety of assessments in the industry. Since the peak of the pandemic, Valcre has seen a nearly 300% increase in recurring revenue.

“Valcre is accelerating workflow efficiencies across all segments of the commercial real estate appraisal industry – from solopreneurs to many of the biggest names in real estate services,” said Avenue Growth Partners Co-Founding Partner Ryan Russell. “We are proud to support Lucas and Kris’ vision to empower commercial real estate appraisal professionals globally. »

Prior to this funding round, the company had spent six years developing its platform and amassing a list of top clients in the real estate services industry, including Avison Young, Kidder Mathews, Kroll, Apprise by Walker & Dunlop, RSM, CohnReznick and several hundred others. .

“As a specialized VC focused on real estate technology, we have a keen eye for identifying startups solving real problems in specific market segments,” said Dave Garland, Managing Partner of Second Century Ventures (SCV). “The market for valuation and advisory services relies heavily on outdated methods. Created by former appraisers, Valcre’s software uniquely solves the nuanced problems of their clients. Valcre works with some of the industry’s leading appraisal and valuation companies, further emphasizing their market-leading position. We are delighted to support the continued growth of Valcre.

About Valcre

Valcre is the premier appraisal software for the commercial real estate industry. The platform provides an end-to-end solution for the appraisal workflow, including job and client management, property search, inspections, analysis and report writing. Valcre customers save time while providing higher quality reviews. With integrations into the industry’s leading data providers, custom report templates, and a cloud-based collaboration suite, Valcre accelerates the assessment process, giving businesses of all sizes a sustainable and meaningful competitive advantage.

Founded in 2016 by technologists and assessment professionals, Valcre has built a client base that includes Avison Young, Kidder Mathews, Kroll, Apprise by Walker & Dunlop, RSM and CohnReznick. For the latest news from Valcre, visit www.valcre.com or follow us on Facebook, instagram, LinkedIn and Twitter.

About Avenue Growth Partners

Avenue Growth Partners provides growth capital to B2B software entrepreneurs who create winners in vertical markets. Based in Washington, DC, some of Avenue’s investments include Rosie, BizzyCar, Scanifly and Valcre. For more information, please visit www.avenuegp.com.

About Second Century Ventures

Second Century Ventures (SCV), the strategic investment arm of the National Association of REALTORS®, is the world’s most active real estate technology fund. SCV helps scale its portfolio companies across the world’s largest industries, including real estate, financial services, banking, home services and insurance. Second Century Ventures operates the award-winning REACH technology growth program. Learn more about scv.vc.