By Mike Sunnucks | Rose Law Group Reporter
Lessen — a Scottsdale-based real estate marketplace platform — has completed a $170 million Series B funding round and announced a company valuation of more than $1 billion.
Lessen’s platform links property owners with service professionals.
The Series B funding round was led by California-based venture capital firm Fifth Wall along with Khosla Ventures, General Catalyst and Navitas Capital.
Lessen previously completed a $35 million Series A funding round in June.
There has been $214 million invested in the Arizona-based real estate venture, according to the company.
Lessen will use the money for technology and expansion efforts.
The technology platform includes “Integrated dashboards, billing and analytics” for service providers, property owners and managers, according to a release from the company.
The platform currently has more than 2,000 service providers, across more than 30 markets. Lessen has more than 450 employees with hiring plans for 1,000 more in 2022.
“This funding round gives us the rocket fuel we need to continue to scale the business in many ways,” said Jay McKee, founder and CEO of Lessen. “We are being acknowledged as the only company that is delivering technology-enabled service fulfillment in a way that specifically targets our clients needs”
Lessen has offices in Scottsdale, Miami and Seattle.
“In the last five months since its Series A fundraise, Lessen has grown exponentially and built the industry-leading managed marketplace for property services and real estate owners,” said Dan Wenhold of Fifth Wall. “We are proud to increase our investment in Lessen and support the company’s continued expansion across new real estate asset categories and geographies.”