Munich-based Alasco has just raised €35 million for its cloud-based financial management platform for the real estate industry.
The Series B funding was led by New-York based global venture capital and private equity firm Insight Partners, with participation from global private equity platform Lightrock.
Real estate, whilst a growing sector across Europe, currently faces two major challenges – climate protection and digitalization. Sustainability is at the forefront of every sector at the moment and certainly an area that real estate needs to take into consideration. It’s estimated by the UN that 30-40% of global CO2 emissions are due to construction and the use of buildings.
Making construction ESG (environmental, social and governmental) compliant has never been more important. With respect to digitization, both construction and real estate are lagging behind – often still relying on old-school software.
Founded in 2019, Alasco is disrupting the industry to remedy these issues and bring the sector up to speed. The startup has created its Real Estate Success Software as a cloud-based real-time SaaS platform that enables customers to connect all sources of ESG and financial data – including budgets, actual cost, revenues and ESG criteria – with cutting-edge technology that automates and assists with financial and sustainability decision making.
The young company already counts industry leaders as customers, with companies such as Hines, SORAVIA and Garbe using the platform. Key to the company’s success so far has been its focus on sustainability in the real estate sector, and its intuitive, easy-to-use interface. For Christopher Steinau, Principal at Lightrock, one of Alasco’s brightest features is how it is “uniquely positioned to play a transformative role in driving change”.
This new funding boost will give the real estate innovators a boost to grow the team, expand across Europe and enhance the platform’s functionalities and ESG capabilities to support customers in managing the entire life cycle of a real estate project in a digital and sustainable way.
Speaking on the future of the company, CEO and founder Sebastian Schuon, said: “By the end of 2022, we plan on doubling our headcount from 100 to around 220 employees. At the same time, we plan to expand our business into new markets. Growing our presence internationally is the next logical step for us, although customers around the world already use our solution. Real estate is a global industry, and it urgently needs digital solutions. We want to make our contribution here and show how the industry can make real progress – starting with a focus on the UK market in 2022.”