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WeWork invests in Israeli proptech co Jones

Omri Stern and Michael Rudman
Omri Stern and Michael Rudman
10 Oct, 2019 17:02
שלח תגובה במיילGlobes correspondent

Jones aims to become the standard for insurance compliance in the CRE industry.

Israeli commercial real estate startup Jones, announced today an additional $4.6 million venture round led by Hetz Ventures alongside JLL Spark, WeWork, MetaProp Ventures, GroundUp Ventures and 500 Startups. The company has raised $8 million to date.

With offices in Tel Aviv and New York, Jones provides a software-as-a-service solution helping commercial real estate companies to tackle insurance certificates by automating and simplifying the workflow in each step of the value chain, from facility management to leases, development, and construction. The fresh funding from leading strategic investors will position Jones to sustain rapid growth becoming the standard for insurance compliance in the CRE industry.

Over the past 18 months, Jones has been deployed in over 500 of properties and thousands of vendors growing 20% MoM with leading companies such as JLL, MITIMCo, Stark Enterprises, and many others. Its rapid growth is fueled by the speed and ease of software implementation, which the company says is occurring at a rate of two properties per hour. After just a few weeks of implementation, real estate customers cut liability exposures along with a seamless user experience for property managers, tenants and vendors.

Jones cofounder and CEO Omri Stern said, "We believe the on-demand-economy is coming to commercial real estate, and that means the insurance workflows need to be rebuilt for simplicity. Real estate managers, tenants and vendors deserve an effortless and transparent experience when completing the insurance approval process. Jones is building the compliance network where every transaction is like ordering an Uber."

Published by Globes, Israel business news - en.globes.co.il - on October 10, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019.

Omri Stern and Michael Rudman
Omri Stern and Michael Rudman
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