It has been a big month for Jilliene Helman and her Realty Mogul team. The real estate crowdfunding platform, profiled here last year, has just finished it’s first year in business closing $15 million in deals on properties worth over $100 million. But the really big news is being released today. Realty Mogul has just announced that Canaan Partners has led a $9 million Series A round, the largest ever investment in a real estate crowdfunding platform.
I should note that Canaan Partners also led the Series A round for Lending Club back in 2007 and partner Dan Ciporin has been a Lending Club board member since then. So, Helman will be able to draw on the deep experience from Canaan on building an online platform to scale. While Ciporin will not be joining the Realty Mogul board (another Canaan partner Hrach Simonian will) Helman said to me in a call yesterday that he will be a tremendous resource for her and her team. Canaan is clearly becoming more active in the space, having also invested in Orchard late last year.
What will Helman do with her new cash war chest? She has two main priorities: more deals and building our her team.
“Today, on the site we typically have 2-4 deals listed, we are going to increase that number substantially in coming months,” she said. “Our near term goal is for investors to have access to up to 20 different deals at any one time.”