Alasco, a real estate SaaS company, has raised $40 million in Series B funding

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Alasco, a cloud-based financial management platform for real estate projects, revealed on Tuesday that it had raised $40 million in Series B funding.

Insight Partners, global venture capital and private equity firm that invests in technology and software firms, and Lightrock, a tech-driven business model investor, led the financing.

The money will be used to recruit people, expand into Europe, and improve Alasco’s Software as a Service (SaaS) and environmental, social, and governance (ESG) capabilities to help clients manage real estate projects digitally and sustainably, according to the company.

The funds will be used to hire new employees, expand into Europe, and improve Alasco’s Software as a Service (SaaS) and environmental, social, and governance (ESG) capabilities to help clients manage real estate projects digitally and sustainably, according to the company.

The real estate business has space for development regarding digitalization and environmental, social, and governance (ESG) challenges. Alasco is a cloud-based, SaaS platform that enables companies to combine data such as budgets, costs, revenues, and ESG criteria with automated technology to aid financial and sustainability decision-making.

“By the end of 2022, we plan on doubling our headcount from 100 to around 220 employees,”

Sebastian Schuon, Founder and CEO, Alasco

While digitization has been a nearly universal goal for corporate finance executives, it has taken varied forms in different industries. It is because each sector has faced its own set of difficulties.

Paper check payments are still standard in commercial real estate, which frequently deals with vast sums of money. According to The Strategic Role of the CFO, a PYMNTS and Versapay partnership based on a study of 400 chief financial officers, check payments account for 34% of B2B payments in this industry. 

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