Venture Capital News: Lev Snags $30M Series A Deal
NEW YORK, NY, Lev snagged a $30 million Series A investment round, led by Greenspring, with participation from First American Financial.
Lev, the leading online commercial real estate financing transaction platform, announced today a Series A round of $30 Million led by Greenspring, with participation from First American Financial. The round was joined by existing investors, including NFX, Canaan Partners, JLL Spark, Animo Ventures and Ludlow Ventures.
The amount raised is one of the largest to-date in the commercial real estate (CRE) financing space, and will further Lev's mission to help CRE investors get the best financing for their properties by combining the collective knowledge of Lev's expert team with hundreds of millions of data points.
Lev helps commercial real estate owners and investors get the best financing for their properties. Lev's capital markets experts are superpowered by machine learning technology to help understand your portfolio, identify the best lender for each transaction and get the deal closed quickly, keeping clients updated every step of the way. Founded in 2019 and headquartered in SoHo in New York City, Lev transactions across all asset types, nationwide.
The funds raised will primarily be used to expand Lev's team, in their New York City HQ, Miami R&D center and Los Angeles outpost, as well as through remote positions. Continued investments will be made in product development and to expand Lev's services. Lev closed approximately $100 million of loans in 2020, their first year in existence, and is projected to close over $1 billion in 2021.
Lev is the full-stack transaction platform for the lifecycle of a commercial real estate investment, from analysis, financing and closing to monitoring, servicing and when the time comes, disposition. Lev products are built by an inhouse team blending their knowledge of capital markets with cutting-edge technology, processing a multitude of loan data through custom machine-learning software to handle even the most complex deals.
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