The New York-based venture capital fund Insight Partners, one of the world's leading software and technology investors, is making a significant contribution to the financing round. London-based global private equity platform Lightrock, which specializes in sustainable solutions, is also investing in Alasco. The money will be used to scale the startup, according to Alasco founder and CEO. Sebastian Schuon explained:
"One of our main goals with the Series B funding is to further develop our platform. To do this, we need to grow."
With the investment, Alasco's workforce is expected to more than double in 2022 – from 100 to 220. In addition, founders Benjamin Günther, Sebastian Schuon, and Anselm Bauer plan to use the capital provided to drive expansion into new markets. Schuon continues:
"Expanding our international presence is the next logical step. Customers are already using our solution for international projects. The real estate industry is a global one that urgently needs digital solutions. We want to make our contribution here and demonstrate that the sector can make real progress. To this end, we will launch in the UK market in 2022. We are therefore delighted to have Insight Partners, an experienced global partner, at our side."
Sustainability in the real estate industry
Alasco also plans to Real Estate Success Software to further expand. Customers should be able to digitally manage the entire life cycle of a property with Alasco – from construction and maintenance to sale. A particular focus is on sustainability, says Schuon:
"In the future, it will be crucial to link financial data and sustainability criteria. We want to help our customers make better decisions about the environmental impact of their projects. To this end, we will be adding additional modules to our existing ESG documentation features over the next few years. With Lightrock, we have gained an investor who is driving sustainability forward and can support us on this journey with their experience."
Alasco convinces investors
Rachel Geller, Managing Director at Insight Partners, joins Alasco's board. She says:
"Alasco is led by a fantastic founding team. Alasco's clients particularly value the digital workflows and transparency when it comes to the financial performance and sustainability of their projects. Based on the positive market feedback, we see great potential for Europe-wide expansion. Insight Partners is delighted to invest in Alasco and support the company on its growth path."
Christopher Steinau, Principal at Lightrock, adds:
"The real estate industry is one of the world's largest carbon emitters, generating 39 percent of global annual greenhouse gas emissions and consuming approximately 30 percent of the world's energy. We believe Alasco can drive change in the industry and help property owners make ESG-related decisions based on solid data and benchmarks. We look forward to working with the Alasco team to further advance this issue."
