In 2014, we set out to deliver a new category of software and data services that would empower the world’s most sophisticated real estate investment managers to operate at scale with speed and precision, to make the best investment decisions, and maximize risk-adjusted returns. Time flies when you’re building an integrated digital platform powering the full lifecycle of real estate investments!

Looking back on our first 10 years of partnering with clients, growing our organization, and launching a new category and solution for real estate deal management software, the progress and achievements have been a total team effort. As the CEO and Co-Founder of Dealpath, I am proud, honored, and grateful to work with such a talented and dedicated team with unmatched ambition to deliver client value. I want to give special thanks to our two Co-Founders, Kenter Wu and Andy Lee, our Founding Team, Gary Kao and David Knight, and each and every member of our fantastic team along with our clients, partners and investors for their support over the years and as we venture forward together.

Today, Dealpath is proud to be recognized by the industry as the category creator, market leader, and most trusted platform for real estate investment management. Our revolutionary platform has been purpose-built from the ground up to drive investment performance from pipeline to portfolio management for both equity and debt investors. We are powering hundreds of institutional managers, including 7 of the top 10, and have supported more than $10 Trillion in global investment decisions across acquisitions, dispositions, development, and debt. With Dealpath, clients are evaluating +20% more deals than they did previously, making 30% fewer errors in underwriting and due diligence, seeing a +50% increase in productivity, and a +60% lift in employee satisfaction. These are big, hard numbers measured from many hundreds of successful implementations.

Building a World-Class Team to Deliver Compounding Value

Our world-class team is spread across our dual headquarters in San Francisco and New York City and our offices in Toronto and Austin. We’ve been backed with over $60M from top-tier venture and growth investors including Morgan Stanley, Blackstone, Nasdaq, JLL, 8VC, and GreenSoil, including a $43M series C funding in 2022. The company is well resourced and capitalized for the long-term as we work diligently to build industry-defining solutions.

We started a decade ago with a wildly ambitious goal – to digitize real estate investing, the largest and oldest asset class in the world, bringing data-driven decision-making, speed, and efficiency through powerful business process automation and AI. We saw consolidation in real estate investment management as the largest institutions sought to benefit from even stronger economies of scale and lower costs of capital. They required purpose-built solutions to accomplish this and Dealpath would be the trusted partner to realize this massive potential.

Our vision and mission hasn’t drifted a bit – the opportunity has only become bigger and more clear for an integrated, digital platform powering the full lifecycle of real estate investment management.

The Problems We Set Out to Solve: Disparate, Siloed Data and Complex Business Processes

We saw two fundamental challenges that real estate investors and capital markets professionals were facing.

The first was the inability to easily assess accurate, up-to-date data across disparate sources. Investment professionals were spending too much time, money, and energy manually trying to cobble together necessary information through repetitive activities of scouring a dozen different data sources and trying to curate and format this data, which was then instantly lost again in spreadsheets and emails. The result was missed opportunities, costly errors and oversights and a major drag on the speed and quality of work.

The second was complex collaboration requirements across internal teams and systems, as well as with external partners. Legacy tools and business processes weren’t designed for competing in today’s digital universe and scaling real estate investment programs. Teams were bottlenecked by a lack of visibility, issues with controls and data security, and most of all, the ability to get things done efficiently.

Real Estate has specific needs – securing a parcel of land, constructing and maintaining operations on it, and underwriting a physical thing in the real world is different from other types of investments. With this said, we’ve observed relatable solutions in other markets. For example, taking the way back machine to the Buttonwood Agreement in 1792, when 24 merchants and stock brokers agreed to standardize how they trade among one another. 

Standardizing data and workflows enabled global capital to invest in local/regional businesses, driving scale and liquidity. This has evolved to what is today the NYSE, the foundation of today’s financial markets and financial infrastructure, including institutions like Bloomberg. Real Estate was still under the Buttonwood Tree – however the largest asset class in the world was poised for a belated and accelerated digital transformation.

Supercharging the Investment Process With Data, Automation, Collaboration, and Scale 

The bright and inevitable future is that real estate will look more similar to equity, debt, and currency, which together comprise the four major asset classes globally. Real estate will have increasing regulation with accounting and data standards (ex. ESG), increasing liquidity through online exchanges with electronic trading, and it will be driven by institutional investors and top brokerage firms – the largest, most sophisticated pools of capital and advisory services.

Through our work over the past decade with hundreds of leading firms, Dealpath has identified these four key pillars for building value and operational excellence through investment performance engineering: Data, Automation, Collaboration, and Scale, which we refer to as “DACS“, our methodology.

DACS is a framework for understanding, competing, and operating in the digitally transformed business and network of real estate. We see a new breed of investment manager deploying DACS and growing an operational backbone without traditional constraints, unlocking value exponentially with inherent relentlessness in execution.

A Decade-Long Partnership with 7 of the Top 10 Real Estate Institutional Investors

This transformation did not happen overnight or in a vacuum; our team has worked tirelessly to deliver on this mission and vision of digitizing CRE investment decisions over the past decade. Our partnerships with hundreds of institutional clients across the CRE industry have informed and continue to drive our product roadmap. It’s truly a privilege to see firms of all sizes optimize investment performance with purpose-built software. 

Dealpath makes it easy for clients to bring in new deals for initial screening and centralizing data at the top of the funnel, promoting adoption to build a data advantage with the full scope of every deal and asset that crosses their desks.

We provide powerful and intuitive workflow automation that works for our clients’ specific needs and drives efficiency across underwriting, investment committee, diligence, closing and related reporting to operate at scale with speed and precision to make the best investment decisions and generate optimal risk adjusted returns.

As the arms race for data-driven precision continues, we’re seeing the industry pull every lever possible to maximize value creation. 

The Next 10 Years of Engineering Real Estate Investment Performance

At Dealpath, we believe that real estate is driven by people with information to shape our built world and that intuitive, purpose-built software and data-driven analysis empower smart decisions and performance. Everything we do continues to be in pursuit of maximizing the important work of real estate investment and capital markets in today’s digital universe and age of AI.

We’re just getting started and I couldn’t be more excited for our next decade of growth and innovation! Looking forward, it’s clear and inevitable that the next ten years will move even faster as Dealpath helps empower the digital transformation of real estate and real assets globally. There is so much more work to do, which is just the way we like it. Go Dealpath!

The post Dealpath Celebrates 10-Year Anniversary & Next Growth Phase appeared first on Dealpath.

Looking back on the past eight years of partnering with clients, growing our organization, and building a new category and solution for real estate deal management software, the fantastic progress we have made has been a total team effort. Since we first launched our platform in 2014, we’ve supported over $10 trillion in investment transactions. Over the past year alone, our world-class team has nearly doubled to 100 professionals across our three offices in San Francisco, New York City and Toronto. We experienced much of this growth through a global pandemic, social unrest, and market volatility. Dealpath is solving real business needs and has so much opportunity to grow together with our clients.

Looking forward, it’s clear and inevitable that the next eight years will move even faster as Dealpath empowers the digital transformation of real estate globally. Morgan Stanley is the perfect partner for this next phase of growth towards our vision of becoming where the built world transacts digitally.

As the CEO and Co-Founder of Dealpath, I am both honored and grateful to work with such a talented and dedicated team who have collectively built this strong foundation and break-out momentum with a bright future ahead. I want to extend a big thank you to our team members, clients, and investors for your partnership over the years and as we venture forward. 

Delivering a Better Solution for Real Estate Investment Teams

Institutional real estate investment managers, developers, lenders and advisors have been underserved by software and technology to support their important work for far too long, defaulting to information stored locally in spreadsheets, emails and drives for guidance.

Speed and precision are vital differentiators in today’s market environment, as investors deploy global capital on inherently localized investment strategies to meet and exceed investor expectations.   

We set out to deliver a deal management solution that would enable investment teams to confidently and nimbly make the best investment decisions at scale, driven by centralized, real-time data, workflow automation, and effective collaboration. Our vision was clear: to make Dealpath where the built world transacts digitally by creating an investment command center, serving as the centralized source of truth from pipeline through portfolio management. 

Eight years after first launching Dealpath, the platform has now grown to become the real estate industry’s leading and most trusted deal management solution being leveraged by hundreds of top performing firms. If not for these close partnerships with the real estate industry, including six of the top ten institutional investors, we would not have been able to mold our software to deliver the value we do. 

Most importantly, these first eight years have validated our hypothesis that purpose-built software with powerful data analytics and collaborative workflows enables players of all sizes to uncover the most profitable opportunities and build value into the future. I’m proud to say that our customers have achieved impressive business outcomes, including evaluating 194% more deals, boosting the number of deals closed by 154%, and increasing deal velocity by 120%.

The Opportunity Ahead: Ushering a Rapidly Evolving Industry Forward

The real estate industry continues to transform digitally, as firms of all sizes digitize their operations to transact with greater speed, precision and conviction. In an $18 trillion market, deal management software is quickly becoming a necessity to compete and deliver compelling investment programs and returns.

This funding is pivotal to the next phase of Dealpath’s rapid global expansion as we aim to build our world-class team, including new roles that will bolster our product, leadership and market facing capabilities. We will continue to create compounding value as an end-to-end solution that drives optimal portfolio performance, empowering our clients to invest with the speed and precision they need in this competitive market. By doing so, we look forward to continued partnerships with our industry-leading clients that have driven exponential growth across all real estate asset classes and markets.

As the real estate industry continues to evolve to fully leverage digital solutions, the opportunity to realize exponential growth is exceptionally massive. We are excited to continue to drive operational excellence as we grow, but most importantly, to empower data-driven portfolio growth for our valued clients to invest in and responsibly make the most of our built world. We’re just getting started, and we couldn’t be more excited for what’s ahead! Go Dealpath!

The post Announcing Our $43M Series C Funding Led By Morgan Stanley appeared first on Dealpath.

We sat down with Connor Mortland, Director of Acquisitions, to learn more about how Avanath has grown by streamlining workflows, standardizing reporting, and expediting decisions. According to Connor, during Avanath’s first year spent managing deals in Dealpath, the firm doubled deals reviewed and under contract.

Driving Deal Management Adoption With Simplicity

Dealpath: What led Avanath to search for a deal management solution?

Connor: Over our 14 years as a firm, we’ve grown quite significantly, which means we thoroughly review quite a large pipeline as a firm. We were using generic tools like Excel and Monday.com, which aren’t great solutions for managing a real estate pipeline. We started to look at other options, and Dealpath quickly emerged as the best solution.

Dealpath: After selecting Dealpath, how did you manage and enforce the organizational process changes?

Connor: We were deeply rooted in our old processes, but Dealpath made everything that we do so much easier. The simple and engaging user interface led to seamless adoption across the firm–from the partner level, to my level, to the analyst level. The platform is so easy to use for sourcing, managing and reporting on deals.

Reviewing Deals at Scale: Efficiency, Accuracy & Real-Time Pipeline Visibility

Dealpath: How has Dealpath changed the way that you review deals?

Connor: When we look at a deal, our priority metric is the IRR. We typically like to be in the range of the low-to-mid teens. To screen deals, we create models in Excel, then drag and drop them into Dealpath to track everything appropriately and find the most important metrics. We can then look at loan proceeds, unlevered and levered returns, cap rates and other metrics, which are pulled into a one-page summary. Having all of the bottom-line metrics in the one-page summary allows us to look at this information in a clean format. We can compare deals to other pipeline deals, as well as historical comps.

Dealpath: What happens from there?

Connor: When deals do match our target profile, we’re already one step closer to pushing them forward. We can take all of the information in the one-page summary and seamlessly create an IC memo to share with the committee during the next meeting. Before Dealpath, we spent hours cobbling together long summaries into emails, but this functionality makes it much easier to present real-time information in the right format. Now, we can generate an IC memo based on the data, write an abstract, and add it to the agenda. It’s a frictionless process that helps us deliver the right information to our investors, with clear visualizations that tell the story for us.

Boosting Deal Velocity With Standardized Workflows & Centralized Real-Time Data

Dealpath: As deal management software becomes the new gold standard for investment managers, the pace of transactions in the market has picked up. Has Dealpath helped Avanath to keep pace?

Connor: Absolutely. I think one of the biggest challenges for executing deals in a tight time window is the sheer number of due diligence steps and parties involved, especially for complex portfolio transactions with several properties, each of which might have a few moving pieces. The standardized workflows in Dealpath give us peace of mind in knowing that we’ve reviewed every necessary step, and that we’re looking at up-to-date documentation. It also helps us collaborate because we can assign tasks to another team member or department, and keep a record of that in one centralized place.

Dealpath: How have you changed how you communicate internally?

Connor: Dealpath’s reporting feature has simplified how we share information within the company. When we used Excel and Monday.com, we didn’t have the best reporting tools at our disposal–we typed in everything manually. Dealpath has helped us keep things organized and up-to-date. We have several automated reports generated each week, which helps us stay up to date on pipeline deals and priorities. These reports also help us to keep senior management and other teams informed about new pipeline activity. I can’t imagine working at the scale we do now without Dealpath’s reporting.

Doubling Pipeline & Deals Under Contract

Dealpath: After spending one year on Dealpath, how have your top-line metrics changed?

Connor: To start, we reviewed double the number of pipeline deals in 2021. We closed and committed over $1 billion in real estate, which is a record for Avanath. Now that we’ve built this baseline, which we previously did not have visibility into, we can set benchmarks. Our goal is now to deploy $1 billion in capital or more each year moving forward. Through the first half of 2022, we already have approximately $1.2 billion of real estate that is closed or committed.

Dealpath: How many additional team members did you hire?

Connor: We accomplished this with the same headcount. Part of what makes Dealpath so valuable to our team is the ways that it allows us to work so efficiently. Dealpath automates and streamlines nearly every leg of the process, which gives us so much time back in any given day. Now, we have the bandwidth to review even more deals and continue growing.

Why It’s Time to Embrace Highly Trusted, Purpose-Built Tools

By now, it’s clear that deal management software can systematize data-driven investment decisions and pave the way for top-line revenue growth–but not all platforms are created equal. To succeed in a competitive market, your firm must find the best option for your needs.

Learn more about why it’s time for a deal management platform by downloading our free white paper.

The post Connor Mortland Fireside Chat: Doubling Deals Reviewed & Under Contract appeared first on Dealpath.

In particular, the CRE Tech Influencers list considers that ten years ago, commercial real estate lagged in advanced tech adoption. Now, real estate is a sector robust with industry-specific venture capital and an array of digital offerings. GlobeSt. looked at how the market got here, with the belief that commercial real estate took longer to embrace technology because the technology itself is harder to customize for the complexities of the industry. The onset of the COVID-19 pandemic also rapidly propelled new, necessary
innovations across the field, recognizing firms that proved imperative to the industry, especially considering the shift to mandatory remote work.

“We are honored to be recognized by GlobeSt. for our industry-leading, purpose-built solution for the way real estate investment and development professionals work and transact,” said Mike Sroka, CEO and Co-Founder, Dealpath. “Covid-19 and the resulting slowdown created sudden challenges that digitized deal management helped to address, but we believe more broadly that real estate is driven by people with information to shape our built world—and we are confident that an industry that transacts on Dealpath is the long-term future of real estate.”

The GlobeSt. award follows Dealpath’s recent Real Estate Tech Award at the 2nd Annual Commercial Observer Innovation Forum & Awards, as well as a remarkable year of growth in 2020. Dealpath secured major investments, including from Blackstone, the leading global real estate investment firm, and Nasdaq Ventures, which made its first-ever real estate investment with Dealpath, joining JLL, 8VC, GreenSoil Investments, Goldcrest Capital, LeFrak, Milstein and Bechtel as backers.

The post Dealpath Recognized In GlobeSt’s Top CRE Tech Influencers appeared first on Dealpath.

The Real Estate Tech Award goes to a single firm that has demonstrated innovative solutions through the development of new technologies addressing real estate demands as it relates to how property is managed, occupied or transacted. Dealpath, with its ability to give real estate players a strategic digital and collaborative advantage in a dynamic market, stood out as the most impactful technology in a quickly digitizing real estate investment market. Today, Dealpath is the industry’s leading cloud-based deal management platform and is expanding rapidly. Investment and development firms leverage Dealpath as their command center for smart pipeline tracking, powerful deal analytics and collaborative workflows to achieve optimal risk-adjusted returns.

“We are honored to be recognized by the Commercial Observer for our industry-leading, purpose-built solution for the way real estate investment and development professionals work and transact,” said Mike Sroka, CEO and Co-Founder, Dealpath. “Covid-19 and the resulting slowdown accelerated digitization of the built world, and we are creating unprecedented efficiencies for the long term.”

The Commercial Observer awards cap off a remarkable year of growth for Dealpath, including major investments from new backers. Blackstone, the leading global real estate investment firm, and Nasdaq Ventures, which made its first-ever real estate investment with Dealpath, joined JLL, 8VC, GreenSoil Investments, Goldcrest Capital, LeFrak, Milstein and Bechtel as Dealpath investors.

2020 also saw the launch of Dealpath Connect, the company’s latest innovative step, which replaces the need for the manual review and processing of deal flyers, teasers and OMs from brokerage firms. The integration enables Dealpath clients to receive offerings directly in a digital format through their Dealpath accounts, streamlining the engagement between the buy-side and sell-side.

The post Dealpath Wins Top Real Estate Tech Award at CO Innovation Forum appeared first on Dealpath.

Dealpath was carefully selected as a winner by the #RETAS elite panel of judges, including the leading VCs, angel investors and corporate investors and thought leaders in the commercial real estate tech industry.

Sponsored by JLL Technologies, the Real Estate Tech Awards (#RETAS) are the leading international award honoring excellence in commercial real estate tech. The awards recognize the most cutting-edge companies who have played an integral role in advancing tech in the industry throughout the year. Backed by the leading VCs, angel investors, corporate investors and thought leaders in the commercial real estate tech industry, the awards were open to
startups or technology companies servicing the industry.

Currently, hundreds of top investment management firms use Dealpath as their deal management platform such as Blackstone, Bridge Investment Group, Oxford Property Group, UBS Realty and Manulife. Every deal sourced, evaluated and executed by these firms is managed on Dealpath, with Dealpath being utilized as their system of record and their platform for generating investment analysis and investment decisions. Dealpath clients are benefiting from immediate returns and proven results including an average ROI of 475 percent, 20 percent more deals evaluated, 30 percent fewer errors in underwriting and due diligence, a 50 percent increase in weekly productivity and a 60 percent lift in employee satisfaction.

“We’re thrilled to be recognized as the leading investment solution for the commercial real estate industry as a part of CREtech’s Real Estate Tech Awards,” said Mike Sroka, Dealpath’s CEO and Co-Founder. “While 2020 has brought its challenges, it has also cemented our mission to offer collaborative, cloud-based tools that empower real estate professionals. I’m proud to know that Dealpath and our tremendous team have been acknowledged as leaders as we work to offer consumer-grade user experience while also defining the level of feature sophistication real estate investment professionals need to get their jobs done more efficiently and effectively.”

For more information about the Real Estate Tech Awards, click here.

The post Dealpath wins CREtech RETAs Award in the Investment Solutions Category appeared first on Dealpath.

At Dealpath we believe that real estate is driven by people with information to shape our built world. Our continued focus is to create an easier, more effective experience for clients. Our tools reduce friction in deal evaluation and data entry, centralize information with system integrations and unify teams to unlock efficiency and value creation. We’re six years into methodically building out Dealpath’s capabilities alongside clients and partners.

This latest milestone in our progress marks the next step toward achieving our vision. Nasdaq’s rich history and market leading position speak for itself — they are experts in digitally transforming financial markets and their significant expertise will accelerate solutions for global real estate.

We’re excited to pursue product integrations with Nasdaq. Our complimentary solutions through the eVestment business in portfolio management will unlock value for clients. Together, we’ll build out data models and data services that empower real estate investment and capital markets in the age of intelligent software.

This latest strategic investment partnership comes on the heels of Dealpath’s recent announcement of a market-leading innovation, called Dealpath Connect, an automated deal ingestion and sell-side data integration between top investment sales brokers and institutional buy-side investors providing one centralized command center.

It’s an exciting time to be a part of Dealpath. Our products, vision and partners are resonating within the commercial real estate industry and beyond. This is all a testament to the hard work being done by our talented team whose diligent and collaborative teamwork reflect the experience we’re building for our customers.

Today’s announcement allows us to see, even more clearly, the inevitably bright future ahead. We’ll build more programmatic portfolio management and transaction execution for the world’s largest asset class, a critical part of our economy and way of life.

Learn more about our partnership with Nasdaq here, or visit our careers page to become a part of team Dealpath–we’ve got a lot of work ahead and would love for you to be a part of it!

The post Nasdaq Invests In Dealpath And Its Vision For Where The Global Real Estate Market Transacts appeared first on Dealpath.

Dealpath Connect will replace the need to constantly (and manually) review and process deal flyers, teasers, and OMs sent in from brokerage firms. The integration will enable Dealpath clients to directly receive the offerings in a digital format, in their Dealpath accounts – qualified listings can be moved into the deal pipeline for CA signing and due diligence, streamlining the engagement between the buy-side and sell-side.

As part of this initiative, Dealpath and JLL have built a first-of-its-kind data integration technology that will connect commercial real estate investment sale opportunities from JLL’s Investment Center with Dealpath’s deal management platform. Rockpoint Group will be the first beta partner involved with the launch.

Users of both Dealpath and JLL Investment Center will be able to, with a click, add deal opportunities that they wish to evaluate into their centralized Dealpath “command center.” Buyers can source off market and marketed opportunities and add them into their Dealpath pipeline tracker for more actionable and collaborative analysis.

This will save users dozens of hours per week and save the buy-side from potentially missing out on timely, relevant deals. This integrated partnership solution removes the friction in real estate investment sales including repetitive data entry and confidential file transfers for seamless deal management, while enabling the sell-side to maintain their relationship with the buy-side.

The integration is live with beta partners today. Get in touch to find out more about how to use Dealpath Connect with your team.

The post Announcing Dealpath Connect data integration with JLL Investment Center appeared first on Dealpath.

We’re impressed by the thoughtful responses we’re seeing in this trying business environment, with top real estate investment firms adjusting with agility, resilience, and opportunities.

Given the unique challenges of these uncertain times, Dealpath has prepared a summary of best practices and recommendations:

Maintain Business Continuity

We’re observing impacts differing by region, business strategy, and team, all the way to families and individuals. We are all affected through our own circumstances. It’s critical for protecting enterprise value to have centralized data that is globally accessible, institutional grade data security, and collaboration across teams, partners, and systems.

Empower Remote Work

It is proving challenging to forecast global health issues and prevention measures with accuracy. Of the many things this impacts, perhaps most noticeable across the industry is no longer having the ability to meet in person, travel and visit properties, and attend industry events. With changes in the business environment, teams can adjust to enable capabilities for remote work, evolve processes, and establish new ways of collaborating with best-in-class tools.

Execute Portfolio Repositions & Investment Opportunities 

The next 12 months are certain to bring change for nearly every investment manager. Understanding the performance of your portfolio and strategy with speed and precision is critical. Visibility into underwriting and the ability to execute on investment opportunities will drive optimal risk-adjusted returns.

Our Customer Success and Sales teams are always happy to walk through specific use cases with you, share detailed best practices and both train and re-train teammates.

Please let us know if we can be helpful and take care!

The post Pragmatic in a Time of Uncertainty appeared first on Dealpath.

Dealpath, the leading deal management platform for real estate investment firms, announced today that it has successfully earned the American Institute of Certified Public Accountants’ (AICPA’s) Service Organization Control 2 Type 1 (SOC 2) certification after completing an extensive independent audit process with third-party certified public accounting (CPA) firm. The certification affirms that Dealpath’s information security practices, policies, procedures and operations meet the SOC 2 standards for security, processing integrity and confidentiality.

Dealpath is a purpose-built, cloud-based software platform for real estate investment and development teams. The platform serves as a central hub for deal evaluation and execution by bringing together deal information, critical property data and transactional documents into a single, efficient workspace for deal execution.

As investment teams grow and leverage new solutions, it is critical to ensure that those systems are designed and implemented in accordance with the highest standards for data security, integrity and confidentiality.

This SOC 2 certification audit report confirms that the Dealpath platform has the necessary controls to meet the criteria set forth by the Trust Services Principles:

• Security — The platform is protected against unauthorized access
• Processing integrity — The platform’s processing is complete, valid, accurate, timely and authorized
• Confidentiality — Information designated as confidential is protected as committed or agreed

“By obtaining the SOC 2 certification, we continue our utmost commitment to security, processing integrity and confidentiality on the Dealpath platform,” said Kenter Wu, VP of engineering for Dealpath. “With this third-party report, our customers can rest assured that we hold a high standard for security and compliance and will have our highest level of commitment.”

Read the full press release here.

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