Agora, an Israeli startup offering new tech for real estate firms, raised $20 million in a Series A round of investment led by New York-based global venture capital and private equity firm Insight Partners, with participation from Aleph. This raise comes just nine months after Agora brought in $9 million in a seed round of funding last November.
Founded in 2019 Bar Mor, CEO, Lior Dolinski, CPO and Noam Kahan, CTO who met in their army service in the Israeli Defense Forces Elite Unit 8200, Agora has built a software platform that manages data of investments and assets for the real estate industry.
So, you have your own real estate business. You rent out properties. But you are a small firm, not a giant like Sterling or Blackstone, and are basically a family run business. And you don’t have the time, energy or resources to handle all of the details and day to day stuff that are needed.
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Agora helps real estate investors escape the tedium of entering everything on Excel spreadsheets and instead automates everything. Agora says that its platform aggregates all of the data and financial information, automates manual work, and calculates costs, yield and additional elements and grants data access to the funds, developers and investors while simultaneously maintaining the security and integrity of the data. The platform assists the investors in making decisions based on accurate data while following, managing and taking action on their investments in real time.
“As real estate firms grow, they raise more capital and close more deals. But that also means they have more assets to manage and investors to look after” said Bar Mor, Agora’s Co-Founder and Chief Executive Officer. “We use automation to help real estate firms function more professionally while building trust and credibility with their investors. Ultimately, we give real estate firms the ability to fundraise faster, save time on back office tasks, create timely, professional tax outcomes, and transfer funds to and from investors with a click of a button.” Said Mor. “This funding round will help us expand our services, accelerate our growth, and expand our reach so we can continue to help our customers to grow faster, with optimal operational efficiency, and significant time savings on tedious, manual tasks.”