Apto Inc., a commercial real estate brokerage app company based in The Woodlands, a planned community north of Houston, recently closed an $8 million Series B financing round, according to a filing with the Securities and Exchange Commission.
The round was led by Adams Street Partners, a Chicago-based private equity firm. Houston-based Mercury Fund also contributed to the Series B after leading Apto’s $1.4 million series A in late 2014.
Apto is a scalable commercial real estate brokerage app built on the Force platform (Salesforce) to manage contacts and properties. It provides brokers with a cloud-based software solution that brings their full business into one app. The software allows brokers to manage relationships along with investment sales, landlord rep, and tenant rep pipelines.
The company’s founder and CEO, Tanner McGraw, is a former commercial real estate broker who experienced the difficulty of dealing with Salesforce and other non-industry specific CRMs. IN 2013, Tanner and his team built a SaaS product on the Force platform, and very quickly began to scale. The Denver office was opened in order to have better access to Force developers.
The company currently has 48 employees in its Woodlands and Denver offices, plans to hire up to 150 people over the next eighteen months, mostly in sales, marketing and customer support, McGraw told the Houston Business Journal.
Adams Street Partners’ Managing Partner and Head of Investments Jeffrey Diehl will join Apto’s board of directors. Mercury Fund partner Ned Hill also has a board seat as part of the company’s Series A.