Jones Founders (Company Pic)
Jones is an Israeli commercial real estate The company just brought in $12.5 million in Series A funding led by JLL Spark and Khosla Ventures. Strategic players including Camber Creek, Rudin Management, DivcoWest, and Sage Realty also joined the round.
Founded in 2017, Jones a commercial real estate company offering a vendor network that they boast makes it simpler for commercial property managers and tenants to ensure compliance, hire vendors and limit liability. Jones processes thousands of compliance approvals in nearly one billion square feet of real estate every day. Jones is headquartered in NYC and Tel Aviv, and is backed by JLL Spark, Khosla Ventures, Camber Creek, Rudin Management, DivcoWest, and Sage Realty.
Jones declares that their network acts as a single source of “truth for compliance data, solving the approval process end-to-end. Jones also makes hiring easier, because its compliance data platform doubles as a trusted vendor marketplace.” Jones says that thier risk & compliance SaaS is a simple, easy-to-use tool that “reduces the time spent and errors made for property managers and tenants when it comes to vendor approvals.” Rather than 12 days lead time for approval, Jones processes an insurance certificate in under one hour and achieves approval in 2.5 days, all with 99.9% accuracy.
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“For too long, the commercial real estate industry has been held back by a burdensome compliance process that’s more focused on who can’t come into buildings than on how to get work done,” said Jones CEO and co-founder Omri Stern. “We’re excited to use this investment to accelerate our mission to make it easier to get work done while ensuring best-in-class compliance. We’re proud to have earned the trust of our clients, who turn to us as the risk and compliance gatekeeper for the commercial real estate industry.”
“We get excited about innovation in the proptech industry that turns problems on their head — creating solutions while also creating new opportunities,” said Yishai Lerner, co-CEO, JLL Technologies. “That’s exactly what the Jones team has done by automating the insurance compliance process end-to-end, building a system of record that improves liability management and creating a never-before-seen marketplace for trusted vendors. We’re incredibly excited to continue working with Jones on their journey.”
