Building Industry Portal Secures $4M in Financing

NEW YORK CITY-Honest Buildings, an online marketplace and business development engine for building professionals, announced on Tuesday that it secured $4 million in Series A-1 Financing from a group of investors led by Thrive Capital, a private equity and venture capital firm founded by Joshua Kushner.

The financing includes participation by investors Westly Group and RockPort Capital, the company reports. In addition, Jared Kushner, CEO of New York City-based real estate firm Kushner Companies, has joined Honest Buildings' board on behalf of Thrive Capital,

The new financing will enable the company to further strengthen its service offerings, including its flagship product, HB Match, an online platform that drives transactions by pairing building owners with qualified building professionals. So far this year, approximately $55 million in contracts have been originated through HB Match, including $30 million in contracts originated in the past five months alone, company officials state.

“We are thrilled to have the backing of Thrive Capital. The firm's successful investment track record in the digital space is immense validation of Honest Buildings' ability to innovate an underserved sector by creating a new model and greater efficiencies for the multi-trillion dollar commercial building improvement industry," states Riggs Kubiak, co-founder and CEO of Honest Buildings. "We are similarly excited to welcome Jared to our board. As one of the business' most prominent real estate owners, Jared brings tremendous value to our organization through his hands-on, practical industry experience and deep understanding of the importance of technology to the real estate business. We are confident that his insight will greatly contribute to our continued growth and momentum.”

Since its founding three years ago by Joshua Kushner, Thrive has raised $200 million and invested in companies such as Warby Parker, Nasty Gal, Instagram, Spotify and Makerbot.