Jones, a commercial real estate startup whose vendor network is designed to make it easier for tenants and property managers to hire vendors, ensure compliance, and limit liability, has raised a $12.5 million Series A led by JLL Spark and Khosla Ventures, the company announced Monday.
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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 trusted network of vendors.
"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. "We're excited to use this investment to accelerate our mission to make it easier to get work done while ensuring best-in-class compliance. We're proud to have earned the trust of our clients, who turn to us as the risk and compliance gatekeeper for the commercial real estate industry."
"We get excited about innovation in the proptech industry that turns problems on their head — creating solutions while also creating new opportunities," said Yishai Lerner, co-CEO, JLL Technologies. "That's exactly what the Jones team has done by automating the insurance compliance process end-to-end, building a system of record that improves liability management and creating a never-before-seen marketplace for trusted vendors. We're incredibly excited to continue working with Jones on their journey."
