LeasePilot Awarded as Technology Pioneer by World Economic Forum

LeasePilot Awarded as Technology Pioneer by World Economic Forum

Boston, May 2022 – LeasePilot, the Boston-based company that helps commercial real estate
owners draft their leases faster, was selected among hundreds of candidates as one of the World
Economic Forum’s “Technology Pioneers”. LeasePilot was founded in 2015 with the idea of
eliminating unstructured documents as the principal technology that virtually all commercial
transactions are made of and replace it with a structured database.

The World Economic Forum’s Technology Pioneers are early to growth-stage companies from
around the world that are involved in the use of new technologies and innovation that are poised
to have a significant impact on business and society.
With their selection as Technology Pioneer, CEO Gabriel Safar of LeasePilot will be invited to
participate at World Economic Forum activities, events and discussions throughout the year.
LeasePilot will also contribute to Forum initiatives over the next two years, working with global
leaders to help address key industry and societal issues.

“We’re excited to welcome LeasePilot to our 2022 cohort of Technology Pioneers,” says
Saemoon Yoon, Community Lead, Technology Pioneers, World Economic Forum. “LeasePilot
and its fellow pioneers are at the forefront of industries that are critical to solving some of our
world’s most complex issues today. We look forward to their contribution to the World Economic
Forum in its commitment to improving the state of the world.”

“We are thrilled to be selected as a pioneer by the World Economic Forum”, said LeasePilot’s
CEO Gabriel Safar. “The World Economic Forum is a venue that allows leading companies to
wrestle and engage with important ideas where meaningful conversations can flourish with
stakeholders of all different backgrounds. Sharing these conversations with the community
makes these ideas stronger, more effective and increases the positive impact felt across the globe which we are all aiming for.”

For the first time, over one-third of selected Technology Pioneer firms are led by women, well
above the industry average. The firms also come from regions all around the world, creating a
truly global community. This year’s cohort includes start-ups from 30 countries, with Vietnam,
Rwanda and Czech Republic represented for the first time.

The diversity of these companies extends to their innovations as well. This year’s Tech Pioneer
firms are shaping the future by advancing technologies such as AI, IoT, robotics, blockchain,
biotechnology and many more. The full list of Technology Pioneers can be found here.

Technology Pioneers have been selected based on the community’s selection criteria, which
includes innovation, impact and leadership as well as the company’s relevance with the World
Economic Forum’s Platforms.

All info on this year’s Technology Pioneers can be found here:
More information on past winners, information on the community and the application link can be
found here.

About LeasePilot:

LeasePilot is a software company that helps commercial real estate owners
draft, revise and abstract their leases faster. LeasePilot’s cutting edge lease draft tools allow users to work with their own lease templates and clauses faster – getting 3 hours of work done in 30 minutes or less. The impact is that lease drafts go out the same day the letter of intent is
approved, and deals get signed in half the time.

About World Economic Forum: The World Economic Forum, committed to improving the
state of the world, is the International Organization for Public-Private Cooperation. The Forum
engages the foremost political, business and other leaders of society to shape global, regional and industry agendas. (

About the Technology Pioneers:
The World Economic Forum believes that innovation is critical to the future well-being of
society and to driving economic growth. Launched in 2000, the Technology Pioneer community
is composed of early to growth-stage companies from around the world that are involved in the
design, development and deployment of new technologies and innovations, and are poised to
have a significant impact on business and society.

To learn more about LeasePilot and get the latest on commercial real estate trends

Tishman Speyer chooses LeasePilot for Leasing Automation

LeasePilot software to offer Tishman Speyer a faster, more accurate data flow in the commercial real estate leasing process

BOSTON, Nov. 13, 2019 — LeasePilot, the leading lease automation software provider for commercial real estate companies, today announced that Tishman Speyer has adopted the company’s software platform to draft, negotiate, and revise commercial lease agreements at selected flagship properties.

“We’re incredibly excited to work with one of the world’s leading commercial real estate owners,” says Gabriel Safar, CEO at LeasePilot. “Tishman Speyer is embracing tech-based solutions to solve latent industry problems with an enthusiasm that’s rarely seen in commercial real estate. Their Innovation Group is setting the bar for the rest of the industry.”

LeasePilot uses context-aware automation to draft and revise commercial leases, helping CRE leasing teams accelerate the time it takes to close leases while streamlining data handoffs between CRM and ERP platforms. LeasePilot incorporates an innovative approach to managing underlying lease data with document workflows that allow legal teams to interact in the same manner they would with traditional text documents. 

About LeasePilot

LeasePilot’s mission is to eliminate the need for antiquated paper documents and to transform commercial real estate leasing by pairing innovative digital technology with tried-and-true legal industry standards, streamlining and optimizing business processes to fill vacant space faster. In 2019, the company is on track to more than double platform transaction activity and nearly triple revenue. Notable customers include JBG Smith, Kite Realty Group and Oxford Properties. Visit LeasePilot at Can We Fix the Dreaded ‘Expectations Gap’ Plaguing Commercial Real Estate Attorneys?

LeasePilot CEO Gabriel Safar recently spoke with to comment on the expectation gap in commercial real estate. The article was published on July 17, 2019. The full text can be found here. An excerpt is below.

Everyone has experienced those moments of setting seemingly realistic expectations and then ultimately had forces outside of their personal control lead to disappointment. Imagine that you are in the market to purchase a new house. Once you’ve found the perfect home, you’re excited and expect the process to be nearly over. But in reality, you have issues with mortgage approval due to missing documents and closing drags on for weeks. This gap between expectations and reality and the frustration that ensues is also a major problem in the professional world, and especially within the commercial real estate industry.

Propmodo: How the Commercial Real Estate Industry Can Combat the ‘Expectations Gap’

LeasePilot CEO Gabriel Safar spoke with Propmodo for a piece on the expectation gap in the commercial real estate industry. The article was published on June 26, 2019. The full text can be found here. An excerpt is below.

Everyone has experienced those moments of setting seemingly realistic expectations and then ultimately had forces outside of their personal control lead to disappointment. Imagine that you are in the market to purchase a new house. Once you’ve found the perfect home, you’re excited and expect the process to be nearly over. But in reality, you have issues with mortgage approval due to missing documents and closing drags on for weeks. This gap between expectations and reality and the frustration that ensues is also a major problem in the professional world, and especially within the commercial real estate industry.

Disruptor Daily: What Trends Are Shaping Blockchain In Real Estate? 7 Experts Share Their Insights [2019]

LeasePilot CTO Itzik Spitzen spoke with Disruptor Daily for a piece on the developments of blockchain-powered real estate platforms. The article was published on June 24, 2019. An excerpt is below.

While blockchain can create transparency, those applications will take time to mature because the industry is traditionally very conservative and not readily comfortable sharing their data. I expect we will see blockchain implementation on two fronts: publishing information that is already publicly available but in a trusted way which can create organization consensus, and zero-knowledge proof implementation which are taking advantage of blockchain’s trust feature without revealing any information.

Click here to read the full piece on Disruptor Daily’s site.

Disruptor Daily: What Are The Benefits Of Blockchain In Real Estate? 8 Experts Share Their Insights

LeasePilot CTO Itzik Spitzen spoke with Disruptor Daily for a piece on the benefits of blockchain in real estate. The article was published on June 17, 2019. An excerpt is below.

In the short-term, the real estate industry will benefit from trust. In the long-term, the biggest benefit that blockchain brings is transparency and liquidity. While landlords may not be fully onboard with data transparency just yet because they see a competitive advantage in local and private data, I believe it is an inevitable process which will result in the entire industry becoming better and more comparable to other markets, such as the stock market.

Click here to read the full piece on Disruptor Daily’s site.

LeasePilot’s ‘Version Control’ Increases Collaboration and Transparency Between Commercial Real Estate Property Owners and Tenants

New product enables all stakeholders in the leasing process to draft leases and negotiate terms within LeasePilot’s intuitive, cloud-based platform

BOSTON (June 11, 2019) — LeasePilot, the only cloud-based platform that accelerates and simplifies the drafting, negotiating and abstracting of commercial real estate (CRE) leases, today announced Version Control, a new solution that brings property owners and tenants together on the same platform to seamlessly collaborate on every draft of a lease. Version Control eliminates the traditional redlining process, making it easier and safer to import and merge changes from one iteration of a lease to the next.

The current commercial real estate lease negotiation process forces attorneys to spend an inordinate amount of time compiling lease edits from an abundance of siloed channels — conference calls, emails, word-of-mouth, memos and redline edits. Incorporating this disjointed feedback is tedious and introduces the possibility for human error. With Version Control, all suggested edits are communicated directly within the LeasePilot platform, accessible by all parties, ensuring accuracy and efficiency.

“With the introduction of Version Control, lawyers and brokers can focus on higher-level work that truly adds value to the business, instead of wasting time incorporating convoluted feedback into countless iterations of a lease,” says Gabriel Safar, CEO and co-founder of LeasePilot. “LeasePilot and Version Control make negotiations between owners and tenants — often an awkward and uncomfortable process — faster, more transparent and collaborative, leading to better tenant experience and better results for everyone’s bottom lines.”

LeasePilot’s mission is to eliminate the need for antiquated paper documents and to transform commercial real estate leasing by pairing innovative digital technology with tried-and-true legal industry standards, streamlining and optimizing business processes to fill vacant space faster. In 2018, the company saw a 900 percent increase in annual returning revenue, more than 200 percent growth in platform transaction activity, and a 75 percent increase to its client roster, which currently includes industry-leading companies
JBG Smith and Oxford Properties.

Existing LeasePilot customers can add Version Control as a feature beginning in November. For more information on LeasePilot, visit

About LeasePilot:

LeasePilot was founded in 2015 by two seasoned commercial real estate attorneys who recognized that commercial leases should close faster. LeasePilot is the only company creating a scalable, digital future for commercial real estate leasing. The company is accelerating the timeframe to close a commercial lease by pairing innovative technology with tried-and-true legal industry standards. By empowering customers through data-driven technology, LeasePilot is moving the industry away from antiquated paper documents and evolving leasing to meet today’s market expectations.

NERJ: Why Commercial Real Estate Must Adopt Technology in 2019

The following article written by LeasePilot CEO Gabriel Safar was originally published in the New England Real Estate Journal on march 29th, 2019.

Commercial real estate has for far too long lagged behind the rest of the world in embracing modern technology, asking employees to meet today’s market expectations with yesterday’s tools. In commercial leasing, it’s the norm for it to take 90 days to close a deal, something that would not be acceptable in any other industry. That’s why now is the time to start improving antiquated processes by adopting technology.

Currently, commercial real estate lawyers use traditional word processors to draft and close leases, software that basically has not changed in 25 years. While Word is great for communicating abstract ideas, it’s not ideal for the creation of leases, which contain hundreds of dependent clauses and calculations that must be updated should even minor details in the lease change.

Further, the data within those documents is siloed from property management, financial and other software needed to keep the business running. Leasing administrators and paralegals manually (and inefficiently) break down those silos by combing through the hundreds of pages of a lease and summarizing key details into leasing abstracts. This tedious, manual task takes hours of time and painstaking attention to detail, leading to burnout and high employee turnover.

Is there a better way to complete this process? You bet. Technology, like document automation, for example, can reduce the amount of time it takes to bring a lease from letter of intent to close. Software integration reduces the hours of work into mere minutes, keeping employees engaged and freeing up time for commercial real estate professionals to focus on higher-level tasks that bring real value to the company.

This isn’t a Jetsons-like future fantasy. It can, and should, happen today. If your organization hasn’t considered technology to improve your outdated processes, what are you waiting for?

Law360: Commercial Real Estate Attorneys Must Embrace Tech

The following article was originally published in Law360 on Feb. 21st, 2019

Using technology from the 1990s simply isn’t going to cut it in today’s legal world. To do any job well, you need the proper tools. Why then are legal teams in the commercial real estate industry asked to use traditional word processing software that has remained relatively unchanged for a quarter century?

Commercial real estate can no longer lag behind. It’s time to adopt new legal technology that enables their teams to do their jobs better and deliver more value to their clients. Now is the time to shift away from outdated and antiquated processes and move into a digital, efficient future.

If technology can improve so many aspects of the legal process, why then are lawyers often so hesitant to embrace it?

First, there’s monetary concerns. Not the money to implement new technology, but hesitations around lost revenue because of industry-standard fee structures and billable hours. For some, there’s a fear that technology reduces billable hours and makes lawyers less profitable. However, time saving technology actually increases the value of your time by allowing you to focus on higher-level tasks, like critical thinking, problem solving and reasoning. Isn’t that the reason so many of us began practicing law in the first place?

Some hesitation to adopt technology comes because the practice of law is based on convention; on a foundation, practices and principles that were adopted decades ago. Lawyers, by nature are change-averse. Going against the status quo introduces the possibility for error; and when mistakes are made, the blame is first placed on the legal team. It’s often easier to embrace the “if it’s not broke, don’t fix it” mantra, than to take what would be worthwhile risks.

Across virtually every other industry, we’ve adopted modern technology that make people’s jobs easier. But lawyers are stuck with outdated tools. There’s an expectation that the legal profession can work as quickly and as efficiently as others, because if one industry has great technology, then everyone must, right? But this isn’t the case. Lawyers aren’t set up for success; it creates a point of tension and an expectation gap between the legal profession and their peers in other sectors.

Ironically, the technology that lawyers do have access to often makes our jobs harder. That’s because, for the most part, the tools are developed by technologists who think about the overall business impact, rather than how the tool is utilized by the end user. Yes, the tools are there, but they aren’t the right tools for lawyers to do their jobs effectively. Instead, these “solutions” often end up being an added burden that makes lawyers’ lives harder. There’s a disconnect between what attorneys need, and what engineers and developers think they do. The industry desperately needs technology solutions that are developed with lawyers’ pain points top of mind.

Before we get too ahead of ourselves, let’s define what we mean by technology. Technology is not just artificial intelligence, self-driving cars and smartphones. More broadly, technology can be defined as the tools and skills produced by people that are used to complete a task.

In this sense, a traditional paper document is also technology (albeit an antiquated one). The paper document remains a relevant and powerful technology tool because it is inherently flexible. This flexibility allows us to use documents to communicate even the most abstract information in a variety of ways, from letters to invoices. While word processing software can be a great tool to create some types of documents, the lack of an underlying logical structure that connects interdependent terms is not ideal for facilitating procedural or transactional records that are commonplace in the legal industry.

Why do these technical details matter to commercial real estate lawyers? Leases provide a great case study as to why lawyers need technological tools to help us create transactional records. Leases are filled with dependent clauses and calculations, requiring changes in numerous places throughout the often lengthy document when even minimal deal terms are changed. With traditional word processing software, the underlying ideas and business concepts in the lease are not connected to the words in the document and therefore when the deal changes, the many places in the lease that need to reflect that change must be manually updated. The process of revising a lease requires painstaking attention to detail from a seasoned lawyer who knows his or her leases inside and out. This tedious process takes the attention and brain power of legal teams.

After the lease is signed, the legal and leasing teams in a commercial real estate organization must create an abstract, the bane of the entire industry. This process of extracting key details from pages and pages of information, translating paper documents into actionable information isn’t the reason I began practicing law — and I think you’d be hard-pressed to find someone who did.

While tedious, the abstract is an invaluable asset used to inform other key business departments, like accounting, which can use the information to create forecasts and projections. With data-driven technology, legal teams can unlock that data much faster and easier. Instead of a person parsing information and manually breaking down data silos, software applications talk to each other, swapping key data and information that make various processes faster.

Document automation can increase efficiencies, but not all document automation is created equal. An important factor in adopting any legal technology is that the technology is built with whatever work that industry does in mind. For commercial real estate, general purpose document automation is slightly faster than Microsoft Word, but will generally require that manual, time-consuming work present in most current leasing workflows because it is not built to handle the complexity of lease drafting and negotiation, nor can it help with iterations of leases after the first draft, for instance.

This is because the automaton is not embedded in the document itself. With most current forms of automation, users are merely filling out questionnaires with loose ties, if any, to the underlying document. Without the context within the document while you fill out the document assembly fields, it can be difficult to understand. Standard form questionnaires for this type of automation also do not necessarily allow for the required customization, which leads us back to using inefficient tools like traditional word processing software to complete drafts.

To truly get the most out of technology, it’s important to seek out specialized software that utilizes what we refer to as context-aware automation, meaning that the automation appears next to or is even embedded in the document itself. While I could get into the technical details about how such software maps interconnected terms that automatically updates thanks to a built-in logical framework that monitors, tracks and reacts appropriately to changes large and small, the key here is that automation is the most beneficial when you can understand the context in which that text appears in your document. This idea of context-aware automation is useful for other types of legal work and can be applied to other types of contracts, like loan documents or equipment leasing.

This is where you might be asking yourself, “Are these automation tools going to take my job?”

These tools are not designed to make lawyers expendable, but they are designed to help enhance the work that you do each and every day. Technology isn’t your enemy; it’s your best friend. It creates efficiencies that free up time, minimizes risk and gives you the ability to spend more time thinking critically and solving challenging problems.

It may seem obvious to say that automation saves time. It can, for instance, take a 90-day leasing process and cut that down to 30 days. For lawyers, it means improving on turnaround time. Leasing is time-sensitive work and current tools make it impossible to meet both internal and external expectations. In a world where waiting a week for a draft contract is too long, technology can turn you from a perceived deal killer into a deal maker by speeding up what are currently outdated processes.

Further, technology helps to reduce the likelihood that there are mistakes in leases, reducing risk and creating what amounts to quality control standards. If we’re honest with ourselves, lawyers like to be in control. While you may feel you lose a bit of control by turning over some aspects of your work to technology, in the big picture sense, you’re gaining further control and establishing consistency, which minimizes risk. In commercial real estate, there is a lack of consistency because of how imperfect current tools are at creating leases. Forgetting to delete terms or language can have real financial and portfolio management consequences. That drives the need for a fussy, meticulous editing process done by an attorney who knows best what language is needed and where. Technology aids you in establishing standardized language and processes across the company’s portfolio, leading to more predictable and desirable business outcomes.

More importantly, utilizing the right technological tools means that lawyers can stop spending inordinate amounts of time on routine, uninspiring and banal work. It would be surprising to find a lawyer who went to law school to do tedious busy work. Lawyers go to law school to practice law. Technology can remove administrative tasks, giving you the freedom to inject your legal expertise and move the industry in which you work forward. Our brains can undertake creative, strategic work that requires critical thought, something machines cannot complete. This is the meaningful work that you should, and can, be focused on. With technology, you can deliver a valuable, better product and become the valuable service provider you want to be.

It’s not a question of if, but when, these data-driven technologies will change the practice of law as we know it. We as lawyers must begin to embrace this technology and have a seat at the table in terms of helping companies understand where our pain points lie and how technological advancement can address them. And there is no time like the present.

VentureFizz: LeasePilot Helps Anyone in Real Estate Create and Close Leases with Ease

The following article was originally published in VentureFizz on Feb. 21st, 2019

LeasePilot is offering those who are working in commercial real estate a tool to help them out with any issues involving tenants leases.

We spoke with Co-Founder and CEO, Gabriel Safar, to learn more about the company and what pain points their application is looking to solve, as he experienced them first hand as a real estate lawyer most of his career. Being a first-time founder himself, Safar also shared advice to those who are looking to start a company themselves.

Colin Barry [CB]: Prior to starting LeasePilot, you were a lawyer involved in real estate. What were some of the common problems you witnessed first-hand that led to the founding of LeasePilot?

Gabriel Safar [GS]: Most lawyers will agree there simply aren’t enough hours in a day. We’re constantly under enormous pressure to turn around lease drafts as quickly as possible. But the process of redlining documents, getting consensus on changes and then making those updates in a document is a tedious, arduous and all around inefficient process. Even once a lease is finalized, the slowdowns often continue. Attorneys are faced with turning dozens, or even hundreds, of pages of legalese into an easy-to-understand document that can be utilized and shared across teams. I felt like I was delivering a high-cost, labor-intensive, and irrelevant product. I was frustrated by these antiquated processes and wanted to alleviate the headache so many attorneys faced each and every day. The process was broken and it was nearly impossible for attorneys to do their jobs efficiently.

When I realized there wasn’t anything in the market to solve for these pain points, I knew I needed to create a solution that would allow lawyers to focus on tasks that were central to the reason they began practicing law in the first place — to think creatively, critically, and to solve important problems — not just push paper. Thus, LeasePilot was born.

CB: Now onto your startup. What function does LeasePilot serve in the real estate business?

GS: LeasePilot’s mission is simple: We get your commercial lease signed faster. Period. Within the commercial real estate (CRE) industry, it currently takes about 90 days to go from a letter of intent (i.e., accepted deal terms) to a signed lease. I firmly believe that timeframe should be 30 days or less. Doing so provides 60 days of additional rent for the owner (and 60 days more revenue for spaces like retail shopping centers), reduces transaction fees and reduces the risk that a deal falls through. As a digital platform that assembles a lease, LeasePilot makes the leasing data available to our customers in the form of an automated abstract and can even deposit lease data directly into other department’s computer systems, like invoicing or enterprise resource planning. Without LeasePilot, getting that data into the operating systems can take another 60 to 90 days, which means those landlords are flying blind with respect to meaningful obligations. Not to mention, it’s a lot of person-hours pulling that information out of a 60-page PDF and manually keying it into the various systems.

CB: How does the software work? Explain it to me as if I am someone using it for the first time.

GS: LeasePilot is a web application, which means a user will go to a website and log into the software from any device. If they want to generate a transaction — a new lease, an amendment or a letter of intent, for example — they choose the physical location of the space and enter the tenant’s name. At that point, the lease “assembles.” LeasePilot pre-loads the owner’s standard lease language into our software during the onboarding process and when they see the lease, all of the information for that building is already pre-loaded into the form. It may sound trivial, but it’s anything but. There is a wealth of information that is very specific to each asset and LeasePilot models that as an object during our implementation process, so it quickly and easily gets folded into a draft lease. For customers with a customer-relationship management system like VTS or Salesforce, the lease will be pre-populated with rent, term, reimbursements, and certain special tenant rights. Since LeasePilot is a digital platform, we can easily pull that data from the CRM and load it into the lease.

Customers then use our context-aware automation tools to continue to assemble their transaction. If at any point they want to manipulate the text of the lease in a way that hasn’t been modeled in the automation tools, they can easily do so since the automation appears with the lease and the user can go back and forth between them.

When the lease draft is complete, it is sent out to a tenant at which point standard negotiations and back-and-forth conversations are had.

Upon agreement and execution of the lease, LeasePilot will push the data to an owner’s computer system, eliminating the need to manually abstract the lease.

LeasePilot Interface

CB: Who are some of the typical clients of LeasePilot? Can you share any use cases from them?

GS: LeasePilot’s customers are commercial property owners. They range from regional real estate owners to global private owners and publicly traded REITs. We’re proud to say some of the industry’s top names have adopted LeasePilot technology, including Oxford Properties, JBG Smith, Kite Realty Group, CASTO and more.

The biggest benefit our customers see is significant time savings. While many use LeasePilot to speed up the process of going from a letter of intent to a signed lease,  others take the additional step of using the lease data we provide to automate document abstraction and to directly deposit key information about their portfolio in other systems for invoicing, property management and financial systems.

CB: Where did you come up with a name like LeasePilot?

GS: The idea is that we’re giving legal and leasing teams more control over their ability to direct transactions. Specifically, business people have traditionally had to go through lawyers to even make the most administrative changes to documentation. Because LeasePilot embedded the underlying legal logic of the lease in the automation, that allows the deal-makers to be more involved in those areas where they have more knowledge and expertise, that is the business deal.

LeasePilot Demo at a Trade Show

CB: You’ve taken the plunge to become a tech startup founder. What is some advice you can give to those who are looking to do the same?

GS: Don’t be afraid to bet on yourself. Over and over again we made decisions that “experts” discouraged. We had a vision of what we wanted to accomplish and anticipated our success, which allowed us to plan for the long term. That has paid very big dividends for us and we can’t wait to see what the future holds for our company.

Colin Barryis an Editor & Staff Writer to VentureFizz. Follow him on Twitter @ColinKrash