BOSTON (December 28th, 2018) — LeasePilot, the only company bringing a scalable, digital future to commercial real estate (CRE) leasing, today announced substantial growth in 2018, including a 900 percent increase in annual recurring revenue, more than 200 percent growth in platform transaction activity, and a 75 percent increase to its client roster. The company also introduced new product features that enhance deal flow collaboration and drive customer efficiency.
LeasePilot’s mission is to transform commercial real estate leasing by pairing innovative digital technology with tried-and-true legal industry standards, ensuring easier collaboration, greater transparency, and streamlined efficiency.
“The leasing process is antiquated, where reliance on paper documents for legal contacts results in a 90 day average timeframe to close a deal, and wastes significant time, money and resources,” said Gabriel Safar, LeasePilot Co-Founder and CEO. “LeasePilot is bringing CRE into the 21st century by pairing innovative technology with tried-and-true legal industry standards, and allows legal teams to keep their eyes on the big picture and focus on what’s most important.”
LeasePilot’s 2018 milestones include:
Customer portfolio expansion
- Over the past year, LeasePilot has begun automating leasing contracts for top real estate organizations across the country including Woodbury Corporation, CASTO, DLC Management, Hajjar Management Co., Keystone Property Group, Kite Realty Group, Urstadt Biddle Properties, and Oxford Properties.
Monthly transaction advancements
- Monthly transaction activity on LeasePilot saw more than a 200 percent increase throughout 2018 as businesses continue to rely on document automation to accelerate contract closings. Annual recurring revenue also saw monumental growth in 2018 for LeasePilot, with a year-over-year increase of 900 percent. Rapid momentum is expected to continue into 2019, with a projected eightfold increase in leasing contracts generated monthly through LeasePilot software by the end of Q1 2019.
Innovative feature deployment
- In October, LeasePilot announced the advanced release of its new GitHub-like collaboration platform for all lease stakeholders, ranging from lawyers to brokers. The platform includes advanced “context-aware” lease automation and specialized communications tools. New software features also allow for faster collaboration between counsel during negotiation phases and help to manage multiple rounds of revisions seamlessly through an intuitive interface.
To support the new features for its growing customer base, LeasePilot also expanded its customer success team. Director of Customer Success Nadine Ezzie heads up an innovative team of lawyers and paralegals, whose specialized perspective allows them to understand the pain points of the end-user and successfully transition customers from paper to digital.
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.