Agora, a leading innovator in real estate investment management solutions, announced today the successful completion of its $34 million Series B funding round, led by Israel-based growth fund Qumra Capital, along with Insight Partners and Aleph.
The investment will enable Agora to accelerate its expansion efforts and further enhance its innovative product offerings.
"We are thrilled to secure this significant investment, which is a testament to the strength of our platform and the promise it holds for reinvigorating the real estate investment industry," stated Bar Mor, Co-Founder and Chief Executive Officer of Agora. "This funding will empower us to expand our company, allocate resources towards research and development, particularly in operational and financial services such as payments, tax, IRA investments, and liquidity solutions, and continue building the best real estate investment experience in the market."
Agora offers a comprehensive solution for real estate professionals, catering to their investment management needs. The company delivers value to its customers by providing the necessary tools to streamline operations, enhance efficiency, and deliver exceptional experiences to its clients. From optimizing investor relations to automating reporting and streamlining fundraising processes, Agora's solutions are meticulously crafted to address the diverse needs of modern real estate investment businesses. Agora helps real estate firms globally manage over 70,000 investors and $150B AUM [assets under management] across every single asset class and their co-founders, Bar Mor, Lior Dolinski and Noam Kahan, have a strong background in real estate, creating a unique understanding of their customers and the business.
The company achieved remarkable milestones and growth despite a highly challenging environment for the tech and real estate industries, showing the indispensable value of Agora's solutions in the sector and growing its revenue three-fold year-over-year. Its commitment to providing a comprehensive solution for investment management led to the launch of tech-enabled financial services, including expert tax, bookkeeping, and international money transfer services. While Agora presently operates predominantly in North America, Europe, and Israel, the company is poised to broaden its presence to additional markets, including Central and South America and Australia.
"Agora's visionary approach, exceptional leadership, and market expertise, combined with their transformative solutions, have significantly reshaped the real estate investment landscape," stated Sivan Shamri Dahan, Managing Partner at Qumra Capital. "Having followed their progress over the past couple of years, we're particularly excited to lead this funding round as we believe in Agora's potential to become the industry's standard. Agora represents the new generation of startups that grew rapidly but efficiently during the global downturn and are now ready for their next massive expansion phase. With their track record of execution and dedication, Agora is well-positioned for remarkable growth and continued success as they expand their SaaS solution into new markets and services."
"Agora's strong momentum since our investment comes on the backs of their continued international expansion and launch of new, differentiated products and services," said Jon Rosenbaum, Managing Director at Insight Partners. "This is all enabled by the team's deep understanding of the pain points facing real estate developers and investors. We're excited to double down on our partnership with Agora."
Agora's success story is a testament to its unwavering commitment to excellence and ability to adapt to changing market conditions. With the new funding, Agora is poised to continue its impressive growth trajectory, continuing to redefine the real estate investment management landscape.