Office space search engine SquareFoot secures $16M in Series B funding round

Office space search platform, SquareFoot, announces the securing of $16 million in a Series B funding round led by DRW VC.

Existing investors, including Triangle Peak Partners, RRE, Rosecliff, and some senior real estate executives, also participated in the financing, which brings the company’s total funding to more than $29 million.

As Jason Rowley wrote at the time of the company’s $7 million Series A, New York-based SquareFoot aims to streamline the office location process “by offering a suite of tools to help stakeholders…discover and refine their requirements, and ultimately receive a set of commercial real estate listings that meet those needs.”

In addition to the initial search process, SquareFoot also lets prospective tenants view availabilities, schedule tours, share documents, and communicate with in-house brokers.

History

SquareFoot Co-Founder and CEO Jonathan Wasserstrum notes that before he went to Columbia Business School, he worked at JLL, a large commercial real estate (CRE) industry brokerage.

“I learned a ton about the market and industry, and, equally important, I learned what the big guys do well, and less well. Big companies do some things extremely well with more resources available, but I also saw a gap in the market as it concerned smaller companies with potential to grow.”

— Jonathan Wasserstrum, Co-Founder and CEO of  SquareFoot

So when he graduated from business school in 2012, he founded SquareFoot with the goal of providing transparency to commercial real estate spaces that was similar “to what people were used to for residential listings.” 

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