PitchBook Bowery (Financial Software) 2023 01 21 20 26 08
PitchBook Bowery (Financial Software) 2023 01 21 20 26 08
Highlights
215 Undisclosed
As of 05-Jan-2023 Secondary Transaction - Private 01-Oct-2021
Valuation Step-up
1.29x
Early Stage VC (Series A1) -
Later Stage VC (Series B)
General Information
Description
Developer of a cloud-based real estate appraisal platform designed to redefine the commercial appraisal space. The company's
platform uses powerful back-end databases and natural language generators to take appraising out of dated excel sheets and offer
increased efficiency, quality, and consistency across the firm, enabling appraisers to produce consistent reports at a fast and low cost.
1
Primary Industry Verticals Keywords
Financial Software Mobile appraisal management
Real Estate Technology appraisal software
Other Industries SaaS commercial appraisal review
Media and Information TMT commercial appraisal space
Services (B2B)
appraisal services
Business/Productivity
appraisal firm
Software
proprietary platform
Contact Information
Alternate Offices
Columbia Iselin
6926 Tolling Bells Court 33 Wood Avenue South
Columbia, MD 21044 Suite 600
United States Iselin, NJ 08830
Phone: +1 (212) 634-9397 United States
[email protected] Phone: +1 (212) 634-9397
[email protected]
Washington DC
1701 Rhode Island Avenue North West
Washington, DC 20036
United States
Phone: +1 (212) 634-9397
[email protected]
2
# Name Competitor Financing HQ Primary Industry Year Last Last Financing
Status Location Founded Financing Amount
Date/Type
Comparisons
E Estimated
3
Noah Isaacs Co-Founder, Co- 1 New York, NY +1 (510) 220-3797 [email protected]
Chief Executive
Officer, President &
Board Member
4
Travis Putnam Co-Founder & Navitas Capital Board Feb [email protected]
Managing Partner Member 2018
7. Later Stage VC (Series 28-Jun-2021 $35.00M $59.85M $116.00M $151.00M Completed Generating
B) Revenue
5. Early Stage VC (Series 04-Oct-2019 $5.00M $24.85M $85.00M $90.00M Completed Generating
A1) Revenue
4. Early Stage VC (Series 20-Dec-2018 $13.10M $19.85M $46.00M $59.10M Completed Generating
A) Revenue
† Indicates an Add-On
E Estimated
Series Terms for: A, A-1, B, B-1, Seed, Seed 1, Seed 2, Seed Prime (as of 28-Jun-2021)
5
Liquidation Preferences Pari Passu Cumulative/Non-cumulative Non-Cumulative
Participating vs. Non-participating Non-participating Anti-dilution Provisions Weighted Average
Dividend Rights Yes Redemption Rights No
Board Voting Rights Yes
General Voting Rights Yes
Deal Types Secondary Transaction - Financing Venture Capital- CEO/Lead Mgt Noah Isaacs
Private Status Backed Site New York, NY
Deal Completed Financing Venture Capital Business Generating
Status Source Status Revenue
Deal Date 01-Oct-2021 Raised to Date $59.85M **
Deal Synopsis
Greenspring Associates sold a stake in the company to an undisclosed buyer.
Sellers/Exiters (1)
E Estimated
Deal Synopsis
The company raised $35 million of Series B venture funding in a deal led by Goldman Sachs Growth Equity on June 28, 2021, putting
the company's pre-money valuation at $116 million. Capital One Ventures, Camber Creek, Fika Ventures, Alpaca VC, Navitas Capital,
Builders VC, Nine Four Ventures and Greenspring Associates also participated in the round. The funds will be used by the company to
grow its product, design, and engineering teams and further bolster its robust appraisal technology platform as the company continues
to scale its appraisal practice nationally.
SERIES B TERMS
6
Liquidation Preferences Pari Passu Cumulative/Non-cumulative Non-Cumulative
Participating vs. Non-participating Non-participating Anti-dilution Provisions Weighted Average
Dividend Rights Yes Redemption Rights No
Board Voting Rights Yes
General Voting Rights Yes
Investors (8)
6. Goldman Sachs Growth Equity New Investor Yes Lead Partner: Jade Mandel
Form of Payment: Cash
7
7. Navitas Capital Follow-On No Lead Partner: Travis Putnam
Investor
Form of Payment: Cash
Fund 1: Navitas Capital II
E Estimated
Advisors (1)
Deal Types Debt - PPP Financing Venture Capital- Site New York, NY
Deal Amount $0.91M Status Backed Business Generating
Deal Status Completed Financing Debt Status Revenue
Source
Deal Date 15-Apr-2020
Raised to Date $24.85M **
Deal Synopsis
The company was approved for a Paycheck Protection Program Loan for $914,700 on April 15, 2020. The application cited 61 jobs to
be retained with the financing.
Deal Synopsis
The company raised $5 million of Series A1 venture funding from Greenspring Associates and other undisclosed investors on October
4, 2019, putting the company's pre-money valuation at $85 million.
8
Cap Table History
Investors (1)
E Estimated
Advisors (1)
9
VC Round 3 Round Financing Status Venture Capital- Total Invested $13.10M
Deal Types Early Stage VC, Series Backed Capital
A Financing Source Venture Capital Pre-money $46.00M
Deal Amount $13.10M Raised to Date Valuation
$19.85M **
Deal Status Completed Post Valuation $59.10M
Total Invested $13.10M
Deal Date 20-Dec-2018 Equity CEO/Lead Mgt Noah Isaacs
Deal Synopsis
The company raised $13.1 million of Series A venture funding in a deal led by Builders VC on December 20, 2018, putting the
company's pre-money valuation at $46 million. Camber Creek, Fika Ventures, Alpaca VC, Navitas Capital and Nine Four Ventures also
participated in the round. The funds will be used to expand to new markets and property types.
SERIES A TERMS
Liquidation Preferences Pari Passu Cumulative/Non-cumulative Non-Cumulative
Participating vs. Non-participating Non-participating Anti-dilution Provisions Weighted Average
Dividend Rights Yes Redemption Rights No
Board Voting Rights Yes
General Voting Rights Yes
Investors (6)
10
3. Camber Creek Follow-On No Lead Partner: Jeffrey Berman
Investor
Form of Payment: Cash
Fund 1: Camber Creek Fund VI
E Estimated
Advisors (2)
Investors (14)
Capital One Ventures Corporate Venture Minority Jun 2021 #7. Later Stage VC (Series B): New
Capital Investor, Jun 2021, Aman Sharma, $35.00M
Goldman Sachs Growth Growth/Expansion Minority Jun 2021 #7. Later Stage VC (Series B): New
Equity Investor, Jun 2021, Jade Mandel, $35.00M
Builders VC Venture Capital Minority Dec 2018 #4. Early Stage VC (Series A): New
Investor, Dec 2018, James Kim, $13.10M
#7. Later Stage VC (Series B): Follow-on,
Jun 2021, $35.00M
Nine Four Ventures Venture Capital Minority Dec 2018 #4. Early Stage VC (Series A): New
Investor, Dec 2018, $13.10M
#7. Later Stage VC (Series B): Follow-on,
Jun 2021, $35.00M
Cushman & Wakefield Corporation Minority Feb 2018 #3. Seed Round: New Investor, Feb 2018,
$5.00M
11
MetaProp NYC Venture Capital Minority Feb 2018 #3. Seed Round: New Investor, Feb 2018,
Zak Schwarzman, $5.00M
Navitas Capital Venture Capital Minority Feb 2018 #3. Seed Round: New Investor, Feb 2018,
Travis Putnam, $5.00M
#4. Early Stage VC (Series A): Follow-on,
Dec 2018, Travis Putnam, $13.10M
#7. Later Stage VC (Series B): Follow-on,
Jun 2021, Travis Putnam, $35.00M
Alpaca VC Venture Capital Minority May 2017 #2. Seed Round: New Investor, May 2017,
$1.75M
#4. Early Stage VC (Series A): Follow-on,
Dec 2018, $13.10M
#7. Later Stage VC (Series B): Follow-on,
Jun 2021, $35.00M
Camber Creek Venture Capital Minority May 2017 #2. Seed Round: New Investor, May 2017,
Jacob Fingert, $1.75M
#4. Early Stage VC (Series A): Follow-on,
Dec 2018, Jeffrey Berman, $13.10M
#7. Later Stage VC (Series B): Follow-on,
Jun 2021, $35.00M
Expansion Venture Venture Capital Minority May 2017 #2. Seed Round: New Investor, May 2017,
Capital $1.75M
Fika Ventures Venture Capital Minority May 2017 #2. Seed Round: New Investor, May 2017,
$1.75M
#4. Early Stage VC (Series A): Follow-on,
Dec 2018, $13.10M
#7. Later Stage VC (Series B): Follow-on,
Jun 2021, $35.00M
LeFrak Real Estate Minority May 2017 #2. Seed Round: New Investor, May 2017,
$1.75M
#3. Seed Round: Follow-on, Feb 2018,
$5.00M
Parallel18 Venture Capital Minority Feb 2017 #1. Accelerator/Incubator: New Investor,
Feb 2017, $0.04M
Greenspring Associates Venture Capital Minority Oct 2019 #5. Early Stage VC (Series A1): New
Investor, Oct 2019, $5.00M
#8. Secondary Transaction - Private: Seller,
Oct 2021
Service Providers
12
Service on a Deal (7)
Service Provider Name Service Provided Service To Deal Date Deal # Comments
Investors (9)
Name All Title Representing Deals Phone Email
Deals
Aman Sharma 17 Partner & Managing Capital One Ventures #7. Later Stage VC [email protected]
Director (Series B): Jun 2021,
$35.00M, Completed
Jade Mandel 7 Vice President Goldman Sachs #7. Later Stage VC +1 (972) 676- [email protected]
Growth Equity (Series B): Jun 2021, 9229
$35.00M, Completed
Travis Putnam 16 Co-Founder & Navitas Capital #7. Later Stage VC [email protected]
Managing Partner (Series B): Jun 2021,
$35.00M, Completed
Jeffrey Berman 11 General Partner Camber Creek #4. Early Stage VC +1 (240) 621- [email protected]
(Series A): Dec 2018, 3177
$13.10M, Completed
Travis Putnam 16 Co-Founder & Navitas Capital #4. Early Stage VC [email protected]
Managing Partner (Series A): Dec 2018,
$13.10M, Completed
Travis Putnam 16 Co-Founder & Navitas Capital #3. Seed Round: Feb [email protected]
Managing Partner 2018, $5.00M,
Completed
Zak Schwarzman 47 General Partner MetaProp NYC #3. Seed Round: Feb +1 (203) 253- [email protected]
2018, $5.00M, 0466
Completed
Jacob Fingert 10 Managing Partner Camber Creek #2. Seed Round: May +1 (240) 621- [email protected]
2017, $1.75M, 3177
Completed
13
Service Providers - Buy Side (1)
Name All Deals Title Representing Deals Phone Email
Gregory Giammittorio JD 8 Partner Morrison & Foerster #2. Seed Round: May
2017, $1.75M,
Completed
Signals Summary
This company has a weekly growth rate of -0.47%, placing it in the 5th %ile of all growth rates tracked within PitchBook. Its underlying
data points generate a size multiple that is 5.70x times larger than the median of all size multiples tracked within PitchBook, placing it in
the 85th %ile of all size multiples tracked within PitchBook.
Signals History
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Social Media Signals
Web Signals
15
Unique Website Visitors 1,882 Referring Domains 115
trailing 7 day average as of 31-Dec-2022
16
Size Multiple 5.70x, 85th %ile
Employee Signals
Company Employee Count Growth Rate Growth Size Multiple Size Percentile
Percentile
Company signals data was calculated against 2006573 companies within all companies.
Company Signals Population: Company Signals data is tracked for active companies (i.e. have not gone out of business) that haven’t
been exited from VC, PE, or Incubator/Accelerator. Social media presence is tracked only for companies that have a Facebook/Twitter
account; web presence is tracked only for companies whose websites are tracked by SimilarWeb and Majestic.
17
News
Age of Enlightenment? Tech & CRE: An Idea Whose Time has Come
Once a fragmented space, some initiatives are underway to address the need for standards across product types within the world of
proptech.
Real estate tech firm Bowery Valuation to open local office after VC raise
The New York-based company will open a Miami and Central Florida office over the next year.
BizJournals | 14-Jul-2021
Tagged entities: Bowery (Financial Software), Leasecake
Real estate tech firm Bowery Valuation sets sights on South Florida after Series B raise
Bowery Valuation, a cloud-based appraisal platform for commercial real estate, will open multiple Florida offices over the next year after
raising $35 million in a Series B financing round. The New York-based company aims to launch at least one Mi...
BizJournals | 13-Jul-2021
Tagged entities: Bowery (Financial Software)
Bowery Valuation Raises $35M for its Tech-Enabled Commercial Real Estate Appraisal Firm
Bowery Valuation Raises $35M for its Tech-Enabled Commercial Real Estate Appraisal Firm
AlleyWatch | 09-Jul-2021
Tagged entities: Bowery (Financial Software)
FinSMEs | 28-Jun-2021
Tagged entities: Bowery (Financial Software)
Bowery Valuation Raises $35 Million for Its Real Estate Appraisal Software
Bowery Valuation, a real estate technology startup, announced it raised $35 million to support increasing appraisal demand across the
US.
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Bowery Valuation Announces $35 Million Series B Funding, Fueling Rapid National Expansion
Bowery Valuation, the leading technology-enabled commercial real estate appraisal firm, announces $35 million in Series B funding.
BusinessWire | 28-Jun-2021
Tagged entities: Bowery (Financial Software), Business Wire, Wire (Communication Software)
A top proptech VC is bringing on an industry vet who once ran Bill Gates' real-estate investments to
help navigate the downturn. Here's how she thinks the coronavirus crisis will play out.
Real-estate tech venture fund MetaProp has hired Maureen Waters, formerly president of Ten-X and a senior exec at Cushman &
Wakefield, as a partner.
Corigin Ventures raises $36M debut fund and looks beyond real estate
Corigin Ventures raises $36M debut fund and looks beyond real estate
PR Web | 23-Oct-2019
Tagged entities: Bowery (Financial Software)
PR Web | 17-Sep-2019
Tagged entities: Bowery (Financial Software)
Bowery Valuation, the Real Estate Appraisal Startup, Secures $12 Million in Series A Funding
Bowery Valuation, the tech-enabled commercial real estate appraisal firm raises $12mm Series A round of funding led by Builders VC.
BusinessWire | 09-Jan-2019
Tagged entities: Bowery (Financial Software), Alpaca VC, Builders VC, Camber Creek, Fika Ventures, Navitas
19
Bowery, a NYC-based tech-enabled commercial appraisal company, closed a $1.75m seed funding. Backers included Camber Creek,
Fika Ventures, Corigin Ventures, LeFrak, and Expansion Venture Capital. The company intends to use the funds tocontinue to ...
FinSMEs | 23-May-2017
Tagged entities: Bowery (Financial Software)
Filings (5)
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