Porptech Leasecake raises $12 million

Leasecake closed a $12 million Series A round led by PeakSpan Capital. Other investors include Las Olas Venture Capital and Branded Strategic Hospitality. This round brings the company’s total funding to date to $17 million.

Founded in 2017, Leasecake is a cloud-based operating system for lease and location management. The software allows tenants, brokers, and landlords to manage location-related services, from lease management and lease accounting to insurance agreements and franchise operations. Benefits include single centralized access to lease and location information and data integrations – ultimately creating a single source of truth, according to the company.

The company plans to use the Series A funding to more than double its headcount over the next 18 months, create new platform offerings and expand further into Europe and Latin America.

Finally, according to LinkedIn, Leasecake is led by Taj Adhav and has a workforce of roughly 50 individuals. The number of employees increased by 68% this year.