‘A Huge Market Ready for a Change’

Powderly says CrowdStreet works solely with accredited investors.

PORTLAND OR—Acquisition and management platform CrowdStreet said Wednesday it had raised $3.5 million in Series A funding. Leading this round was New York City-based Rally Ventures, a venture capital firm specializing in the tech sector, with participation from seed investors Green Visor Capital, Seven Peaks Ventures and Portland Seed Fund.

In terms of leading the round, “Rally was just the best fit for us,” Darren Powderly, CrowdStreet’s co-founder and VP of business development, tells GlobeSt.com. What attracted Rally to CrowdStreet in particular, and to commercial real estate in general, was both the industry’s size and the fact that as yet it hasn’t been disrupted by technology to the same extent as other industries. “It’s a huge market ready for a change,” says Powderly.