Leasecake, the cloud-based operating system for lease and location management, announced that it raised $12 million in an oversubscribed Series A round led by PeakSpan Capital, a Silicon Valley and New York City based investment firm focused on growth-stage B2B software companies. Las Olas Venture Capital and other existing investors participated in the round, along with new strategic investors including Branded Strategic Hospitality. Leasecake allows tenants, brokers and landlords to manage location-related services, from lease management and lease accounting to insurance agreements and franchise operations. Leasecake’s platform provides centralized access to lease and location information, integrating data from multiple sources to serve as a single source of truth for organizations on both sides of the market. The shift to remote work during the pandemic has accelerated demand for enterprise location management technology. Leasecake’s revenue increased fivefold in 2021 compared to the previous year, with customers ranging from single-site operators to businesses managing more than 1,000 locations. The company plans to use the Series A funding to more than double its headcount over the next 18 months, create new platform offerings and expand further into Europe and Latin America.
Leasecake’s technology helps businesses – including private-equity firms, franchisors and corporate tenants, brokers, and landlords – streamline operations, comply with new lease accounting standards, track mission-critical and time-sensitive contracts, and collaborate more efficiently with service providers. The challenge with siloed legacy systems is that they aren’t intuitive and often can’t adapt to a mobile workforce. But with Leasecake, businesses of all sizes stay on top of their location portfolios – keeping tabs on lease and insurance renewals, tracking safety inspections, and managing business licenses. Leasecake is the lease and location management operating system for private-equity firms, franchisors, corporate tenants, brokers, and landlords. The intuitive SaaS platform provides fast answers, proactive awareness, and actionable intelligence for easy collaboration across all mission-critical, time-sensitive events, simplifying productivity across distributed teams. As a future-of-work platform, Leasecake’s shareability also supports service providers, adds value for their clients, and helps businesses that lease or own locations save time, minimize risk, and better manage growth.