Commercial real estate startup Jones announces $ 12.5 million Series A led by JLL Spark and Khosla Venture

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NEW YORK, July 19, 2021 / PRNewswire / – Jones, the commercial real estate start-up whose network of trusted suppliers makes it easier for tenants and property managers to hire suppliers, ensure compliance and limit liability, announced today that it has lifted a $ 12.5 million Series A led by JLL Spark and Khosla Ventures. Strategic players such as Camber Creek, Rudin Management, DivcoWest and Sage Realty have also joined the round. Jones will deploy the funding to continue bringing sourcing into the digital age with the industry’s trusted supplier network. Clients include some of the largest real estate companies in United States, and include Lincoln Property Company, Prologis, DivcoWest, Rudin Management, Sage Realty and JLL, among others.

“For too long the commercial real estate industry has been held back by a tedious compliance process that focuses more on who can’t get into buildings than how to get the job done,” said the CEO and co – founder of Jones. Omri stern. “We are delighted to use this investment to accelerate our mission to make it easier to get the job done while ensuring optimal compliance. We are proud to have earned the trust of our clients, who look to us as the risk and compliance gatekeeper for the commercial real estate industry. “

Jones was founded in 2017 to simplify risk and compliance for commercial property managers by leveraging software and artificial intelligence. Before Jones, the risk and compliance process had become a major obstacle to doing business due to the stringent insurance requirements that every seller and tenant entering a property must meet.

The network built by Jones acts as a single source of truth for compliance data, solving the end-to-end approval process. Jones also makes hiring easier, as its compliance data platform also serves as a trusted vendor marketplace. SaaS Risk and Compliance is a simple, easy-to-use tool that reduces the time spent and mistakes made by property managers and tenants when it comes to supplier approvals. Rather than a 12-day approval timeframe, Jones processes a Certificate of Insurance in under an hour and obtains approval in 2.5 days, all with 99.9% accuracy.

“We are excited about innovation in the proptech industry that is turning problems around – creating solutions while creating new opportunities,” said Yishai Lerner, co-CEO, JLL Technologies. “This is exactly what the Jones team did by automating the end-to-end insurance compliance process, creating a registration system that improves liability management and creating a never-before-seen market for trusted suppliers. We are extremely excited to continue. working with Jones on their journey. “

Today, thousands of property managers depend on Jones to process tens of thousands of seller’s and tenant’s certificates of insurance on nearly one billion square feet of real estate every day.

“We are proud to partner with Jones for the past 18 months, and their supplier network is exactly the type of solution our industry needed,” said Michel Rudin, Executive Vice-President of Rudin Management. “Although such solutions have existed in the consumer space, the particular dynamics of our industry have acted as a barrier to innovation and efficiency. At the end of the day, our tenants just want to be able to get the job done as easily and efficiently as possible. , and we’re thrilled to see Jones make it happen. “

About Jones:

Jones is the commercial real estate company whose network of trusted suppliers makes it easier for commercial property managers and tenants to achieve compliance, hire suppliers and limit liability. Jones processes thousands of compliance approvals in nearly one billion square feet of buildings every day. Jones is headquartered in New York and Tel Aviv, and is backed by JLL Spark, Khosla Ventures, Camber Creek, Rudin Management, DivcoWest and Sage Realty.

To learn more, visit www.getjones.com.

Contact: Chelsea Allison, [email protected]

SOURCE Jones

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http://www.getjones.com


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