NEW YORK, Jul 19, 2021 / PRNewswire / – Jones, a commercial real estate startup whose network of trusted suppliers makes it easier for tenants and property managers to hire suppliers, ensure regulatory compliance and limit liability, today announced that it had raised USD 12.5 million USA Serie A led by JLL Spark and Khosla Ventures. The round was also joined by strategic players including Camber Creek, Rudin Management, DivcoWest and Sage Realty. Jones will channel funding to continue to digitalize procurement through the industry’s robust supplier network. Clients include some of the largest real estate firms in United States, and include Lincoln Property Company, Prologis, DivcoWest, Rudin Management, Sage Realty and JLL among others.
“For too long, the commercial real estate industry has been held back by a cumbersome regulatory compliance process that focuses more on who cannot enter buildings rather than how to get the job done,” said Jones’ CEO and co-founder. Omri Stern… “We’re excited to use this investment to accelerate our mission to make the job easier while delivering best-in-class compliance. We are proud to have earned the trust of our clients who turn to us as a risk. and Commercial Real Estate Compliance Officer. “
Jones was founded in 2017 to simplify risk and compliance management for commercial property managers through the use of software and artificial intelligence. Prior to Jones, the risk management and compliance process was a major obstacle to doing business because of the stringent insurance requirements that every seller and tenant entering a property must meet.
The Jones-built network acts as a single source of reliable compliance data, solving an end-to-end approval process. Jones also simplifies the hiring process as its compliance data platform serves as a trusted marketplace. Risk & Compliance SaaS is a simple and easy-to-use tool that cuts down on time and mistakes for property managers and tenants when it comes to vendor approval. Instead of 12 days to prepare for approval, Jones processes an insurance certificate in less than an hour and gets approval in 2.5 days with 99.9% accuracy.
“We are encouraged by the innovations in the proptech industry that are turning problems upside down, creating solutions while creating new opportunities,” said Ishai Lerner, co-CEO, JLL Technologies. “This is exactly what the Jones team did, fully automating the compliance process, creating a record system that improves liability management, and creating an unprecedented marketplace for verified suppliers. We’re incredibly excited to continue working with Jones on their journey. “
Today, thousands of property managers rely on Jones to process tens of thousands of seller and tenant insurance certificates on nearly a billion square feet of real estate every day.
“We are proud to have partnered with Jones for the past 18 months and their supplier network is exactly the solution our industry needs,” said Mikhail Rudin, Executive Vice President of Rudin Management. “While such solutions have existed in the consumer space, the particular dynamics of our industry have acted as barriers to innovation and efficiency. After all, our tenants just want to be able to get the job done as simply and efficiently as possible. and we’re excited to see Jones bring that to life. “
Jones is a commercial real estate company whose network of trusted suppliers makes it easy for commercial property managers and tenants to ensure compliance, hire suppliers and limit liability. Jones processes thousands of regulatory approvals every day across nearly a billion square feet. Jones is headquartered in New York and Tel Avivsponsored by JLL Spark, Khosla Ventures, Camber Creek, Rudin Management, DivcoWest and Sage Realty.
To find out more visit www.getjones.com…
Contact: Chelsea Ellison, [email protected]