NEW YORK CITY—Honest Buildings said Wednesday it had raised $13 million its Series B funding round. Participants in this round include Brookfield Property Partners, C-III Capital Partners and Rudin Management, along with venture capital firms Navitas Capital, Greensoil Building Innovation Fund, Bienville Capital Management and Riverpark Funds. Thrive Capital, which has previously invested in the project management technology platform, also participated in this round, one of the largest announced to date for real estate owner-specific software.

“Honest Buildings has become an extension of the Brookfield property management and project management process teams, and we have seen valuable cost and time efficiencies driven by its platform as we continue to roll it out across our portfolio,” says Ric Clark, senior managing partner and chairman at Brookfield Property Partners. “As one of the largest real estate companies in the world, Brookfield is in a unique position to help innovative companies at the intersection of real estate and technology grow, and our investment in Honest Buildings reflects our belief in its potential to command an industry-leading position.”

Rudin began using the platform in 2016 and was enthusiastic about participating in the Series B fundraising. “We have seen every type of construction technology over the past 20 years, and this is the only solution that truly anticipates the needs of the owner from a portfolio perspective,” says John Gilbert, EVP and COO. “With the platform in place, we have been able to increase revenue by delivering projects more quickly while simultaneously driving down costs.”

In September, locally based Honest Buildings announced a 500% year-over-year growth rate as more than $6 billion in projects have run through the platform, rapidly expanding to properties in every state in the US as well as Canada. “Developing our platform specifically for and in partnership with real estate owners is an honor,” says Riggs Kubiak, the firm's CEO and co-founder. “Real estate owners are the most entrepreneurial people in the world; they are masters of risk through the management and development of buildings impacting urban areas and we are proud to continue building a platform exclusively for them to deliver projects faster and more efficiently than ever before.”

Instant Insights /

Honest Buildings Completes Series B Round with $13M

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