JLL Spark invests in real estate transaction software pioneer Dealpath
JLL Spark Global Venture Fund’s strategic investment in Dealpath to expand leading cloud-based technology platform for transaction evaluation and execution
SAN FRANCISCO, Sept. 11, 2018 – JLL Spark, a division of JLL (NYSE: JLL), today announced that its JLL Spark Global Venture Fund has invested in Dealpath, the leading global provider of cloud-based technology for evaluating and managing real estate transactions. Based in San Francisco, Dealpath pioneered real estate deal management software and is now supporting over $500 billion in transaction volume with hundreds of leading institutions across the world.
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.
"Dealpath's deal management platform is central in the evolution of real estate software services," said Mihir Shah, co-CEO of JLL Spark. "We believe JLL clients, real estate investors and developers will see great benefits from using its proprietary technology and approach to data-driven and collaborative transaction management to improve the efficiency of evaluating, managing and completing real estate transactions."
By combining collaboration tools, workflow automation, reporting, pipeline tracking and visualized deal analytics, Dealpath's platform eliminates manual and repetitive tasks and delivers compelling Return on Investment (ROI) of more than 475 percent (annual average). Dealpath customers have reduced due diligence and underwriting errors by 18 percent through improved communication, centralized information and process standardization. By automatically collecting and formatting data into custom real estate templates, users reduce Deal Turn Around Time (TAT) by an average of 87 percent, which significantly reduces the time to evaluate and execute new investment opportunities from weeks to days.
"It's impressive and exciting to see Dealpath's growth and focus in supporting the daily work and decision-making of investment teams," said Joe Weishaar, Director of Fund Management at L+M Development. "The platform fosters better, more informed investment decisions and allows us to reallocate time to value-add activities. Working closely with JLL Spark is a natural fit."
JLL Spark's strategic investment in Dealpath will fuel continued growth by providing industry-leading experience, networks, and resources globally. "We're thrilled to work closely with the JLL Spark growth team to help clients leverage the Dealpath platform to achieve optimal outcomes. JLL Spark and Dealpath share a similar view of the built world and are committed to continually raising the bar to provide best-in-class services to help high-performing investment teams build value," said CEO Mike Sroka.
Dealpath is the real estate industry's leading cloud-based deal management platform. Investment and development teams leverage Dealpath as their command center for smart pipeline tracking, powerful deal analytics, and collaborative workflows to focus on value-add work that produces optimal risk-adjusted returns. The company is based in San Francisco, CA and was founded in 2014. For further information, visit https://www.dealpath.com/.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the second quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of over 80,000. As of September 30, 2017, LaSalle Investment Management had $59.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.