Munich, 11 January 2022– Alasco, the cloud-based financial management platform for real estate projects, today announced that it has raised $40 million in Series B funding led by New-York based global venture capital and private equity firm Insight Partners, with participation from impact tech fund Lightrock. The latest funding will be used to hire talent, drive European expansion and further enhance its SaaS platform’s functionalities and ESG capabilities to support customers in managing the entire life cycle of a real estate project in a digital and sustainable way.
The real estate industry has a lot of catching up to do when it comes to digitalization and environmental, social and governance (ESG) issues. To bring the sector up to speed, Alasco built its Real Estate Success Software, a cloud-based, real-time SaaS platform that enables customers to connect all sources of ESG and financial data – including budgets, actual cost, revenues and ESG criteria – with cutting-edge technology that automates and assists with financial and sustainability decision making. Current customers, including industry leaders such as Hines, SORAVIA and Garbe, are using Alasco to manage over $26 billion worth of projects so far.
For Alasco founder and CEO Sebastian Schuon, scaling his company is top of mind with this new influx of capital. “One of our primary goals with the Series B investment is to further develop our platform. To do so, we need to grow,” says Schuon. “By the end of 2022, we plan on doubling our headcount from 100 to around 220 employees. At the same time, we plan to expand our business into new markets. Growing our presence internationally is the next logical step for us, although customers around the world already use our solution. Real estate is a global industry, and it urgently needs digital solutions. We want to make our contribution here and show how the industry can make real progress – starting with a focus on the UK market in 2022. That is why we are pleased to have Insight Partners at our side as an experienced global partner.”
Rachel Geller, Managing Director at Insight Partners, is joining Alasco’s board. “Alasco’s real estate customers love its modern, easy to use workflows because the product provides needed transparency into financial performance and sustainability,” Geller said. “Alasco is led by an incredible founding team, and we heard strong feedback from the market on the potential to expand across Europe. Insight is thrilled to invest in Alasco and we look forward to supporting them on their growth journey.”
Alasco also plans to expand the platform’s ESG functionality to assist customers in making better decisions around the environmental impact of their projects. Schuon explains, "In the future, it’s crucial to link financial data and sustainability criteria. We want to push this forward in the next few years and expand our existing functions to cover the entire life cycle of a property. With Lightrock, we have been able to gain an investor who is driving the issue of sustainability and who can accompany us on this path with their experience.”
Christopher Steinau, Principal at Lightrock, says: "The real estate industry reportedly is one of the world’s biggest polluters, contributing 39% of global annual greenhouse gas emissions and consuming around 30% of the world's energy. We believe that Alasco is uniquely positioned to play a transformative role in driving change in this industry for the better, by enabling real estate owners to make ESG-related decisions based on robust data and benchmarks. We are excited to partner with Alasco’s exceptional team in pursuing this impactful mission."
Visit www.alasco.de/en to learn more about the company and its Real Estate Success Software.
About Alasco
Alasco is digitally revolutionizing the cost, revenue and sustainability management of real estate projects with cloud-based real-time planning, collaboration and control. Alasco’s Real Estate Success software enables customers to connect all sources of ESG and financial data – from planned costs, to revenues and budgets, to ESG criteria – and uses cutting-edge technology to automate and assist financial and sustainability decision making. The company was founded in 2018 by university friends and second-time founders Benjamin Günther, Sebastian Schuon and Anselm Bauer. Among the first investors were Picus Capital, HV Capital, Personio founder Hanno Renner and the founders of FlixBus. To date, over 26 billion USD in project volume has been budgeted through Alasco. Alasco’s customers include leading global players in the real estate industry such as Hines, SORAVIA and Garbe.
www.alasco.de/en
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
About Lightrock
Lightrock is a global private equity platform that backs purpose-driven entrepreneurs tackling the world’s biggest challenges. Since 2007, Lightrock has invested in companies that pursue scalable and tech-driven business models around the key impact themes of people, planet, and productivity/tech for good. Lightrock’s portfolio includes more than 70 high-growth companies in 14 countries across Europe, the USA, Latin America, Asia and Africa. Lightrock has a global team of more than 70 private equity professionals based in London (headquarter), Zurich, São Paulo, Nairobi, and Bangalore.
https://www.lightrock.com
