Blackstone has made an investment in San Francisco and New York City-based Dealpath, a provider of software solutions for real estate investment and portfolio management. No financial terms were disclosed.
NEW YORK & SAN FRANCISCO–(BUSINESS WIRE)–Dealpath, the leading software solution for real estate investment and portfolio management, announced today a strategic investment from Blackstone (NYSE:BX). The partnership will provide Dealpath with the deep industry experience and expertise from Blackstone’s Real Estate and Innovations teams. Blackstone intends to continue building upon the Dealpath platform as a core of its data strategy and architecture empowering maximum value creation from pipeline to portfolio management.
With offices in San Francisco and New York City, Dealpath is the real estate industry’s leading cloud-based deal management platform and has surpassed $5 trillion in transactions supported on the platform with leading institutions across the world. Hundreds of top investment managers leverage Dealpath as their command center for smart pipeline tracking, powerful deal analytics and collaborative workflows empowering smart investment decisions, driving operational leverage and mitigating enterprise risk.
“Dealpath is transforming an industry that has $1 trillion transacted annually with only make-shift means of deal management — either by cobbling together legacy tools such as Excel+Word+Email or spending enormous resources attempting to customize CRM systems,” said Mike Sroka, Co-Founder and CEO. “At Dealpath we believe that real estate is driven by people with information to shape our built world. We believe that intuitive, purpose-built software empowers collaboration, decisions and scale. Everything that Dealpath does is in pursuit of maximizing value of real estate investment and capital markets in the internet age.”
Dealpath clients are benefiting from immediate returns and proven results including 475% ROI, 20% more deals evaluated, 30% fewer errors in underwriting and due diligence, 50% increase in weekly productivity and 60% lift in employee satisfaction.
“Blackstone has been leveraging Dealpath as a client with rapidly expanding deployments that are generating significant value for our businesses. Dealpath has solved important needs for Blackstone and the industry with centralized data that is highly performant and globally accessible. This enables seamless collaboration across teams, partners, and systems and institutional grade data security. We view it as the foundation of a modern real estate tech stack and key player in the digital transformation of real estate,” said John Fitzpatrick, Managing Director of Blackstone Innovations and Infrastructure.
Backed by top tier venture capital and strategic investors that now include Blackstone, JLL Spark, 8VC, GreenSoil Investments, Goldcrest Capital, LeFrak, Milstein and Bechtel, Dealpath is poised for continued global expansion. This new investment comes less than a year after the company closed a Series B round.
“We couldn’t be more excited to continue building out our platform and raising the bar for service to our clients and community. This investment partnership with Blackstone is the result of our shared views on the incredible opportunity of real estate being digitally transformed and we unlock the value of structured data and intelligent work. The built world transacts on Dealpath,” continued Sroka. “We see an inevitably bright future ahead with more programmatic portfolio management and transaction execution in the world’s largest asset class and this critical part of our economy and way of life.”
Dealpath is the real estate industry’s leading cloud-based deal management platform. Investment and development firms leverage Dealpath as their command center for smart pipeline tracking, powerful deal analytics, and collaborative workflows. Founded in 2014, Dealpath has supported over $5 trillion in transactions with leading institutions across the world. For more information please visit our website at www.dealpath.com and follow Dealpath on Linkedin at https://www.linkedin.com/company/dealpath/.
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with $571 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.