Source: Real Estate Weekly —
Jones, a real estate startup whose vendor network makes it easier for tenants and property managers to hire vendors, ensure compliance, and limit liability, announced it has raised a $12.5 million Series A led by JLL Spark and Khosla Ventures.
Strategic players including Camber Creek, Rudin Management, DivcoWest, and Sage Realty also joined the round.
Jones will deploy the funding to continue to bring procurement into the digital age with the industry’s network of vendors. Customers include some of the largest real estate firms in the 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 burdensome compliance process that’s more focused on who can’t come into buildings than on how to get work done,” said Jones CEO and co-founder Omri Stern.