(Source: The Bulletin)
CrowdStreet raises $3.5 million; plans to add employees, improve platform
The company, which provides both an online marketplace and software that allows accredited investors to invest in commercial real estate across the nation, is currently headquartered in Portland, but got its start in Bend in 2013. Co-founder Darren Powderly said the idea grew out of his experience with real estate in Bend, both personally and as president of Compass Commercial Real Estate Services.
Powderly, who maintains an office for CrowdStreet in Bend, said the most recent investment round began near the end of 2015. Ultimately, the company decided that Rally Ventures, a venture fund with offices in Minnesota and the San Francisco Bay Area, would be a good fit as the lead investor. Other investors include the Bend-based Seven Peaks Ventures, and Portland Seed Fund.
Powderly added that the investment will be used to add employees, particularly on the software development side, and continue to grow its online platform.
—By Stephen Hamway