It’s not every day that you have milestones. They exist to provide points of reflection, where you can highlight successes or focus on areas with room for improvement. As a young company looking to revolutionize the workflows of an entire industry and the world’s largest asset class, reaching $1Bn in deal volume on the SeeCares platform is on the one hand just a drop in the bucket in the grand scheme of things, yet it is a spectacularly meaningful number for SeeCares as we grow.
Here is a snapshot into the story behind the numbers:
SeeCares was founded late in 2019, when Moshe and Dror met at WeWork and ultimately decided to tackle a black hole in the industry focused on real estate financing. Eventually Evan and Kobi joined in 2020 focusing respectively on the customer pipeline, marketing, and the product, and the team tasked itself with infiltrating a CRE lending market not exactly known for efficiency.
"Reaching $1Bn is a spectacularly meaningful number for SeeCares as we grow."
As the deep tech product was developed, brokers began using the tool to generate offering-memorandums, and eventually lenders and borrowers got onboard using the platform to streamline their entire modeling, data-collection and memo-creation processes. As we continue expanding our core offering, the mission remains the same, helping CRE lenders and stakeholders to close and underwrite deals quickly and efficiently.
About the Deals Geography
All the 30+ deals that have been processed through the platform up to this point have been located in the United States. We have covered all the geographic regions, and have focused primarily on the Sunbelt, the Northeast, and a bit in the Northwest. The average deal was valued at $45M, and the states we covered most included: Georgia, New York, Florida, Tennessee, Indiana, Florida, Texas, Pennsylvania, Arkansas, New Jersey, Ohio and Utah.
We did not reach this milestone alone, and are grateful to all our partners who have given us their time and feedback as we built out a fairly extensive platform. It started out as a (cutting edge!) tool for generating memoranda, and in just a year has turned into a robust platform that can touch every aspect of underwriting. We are very excited about the recent partnership announcement with Cherre, the industry’s newest leading real estate data and analytics platform.
Our advisory board and many of the investors have been part of the journey from the very beginning. Without their vote of confidence we wouldn’t be here today. Another token of appreciation goes out to each of the industry partners with whom we’ve spent hundreds, if not thousands, of hours reviewing our product, market strategy, and much more.
Now that we got the first billion out of the way, looking forward to closing the next 10!