Chicago startup Truss, a commercial real estate platform that helps small businesses find office space, just raised a new round of funding to grow its technology.
Truss announced Thursday that it has raised $15 million in a round led by Boston-based General Catalyst. Other backers include Navitas Capital, Hyde Park Angels and Hyde Park Venture Partners, along with Jeff Boyd, the former CEO of Priceline, and Robert Mylod, a former Priceline executive and the chairman of Redfin.
Truss has now raised nearly $25 million since it was founded in 2016.
Truss acts as a tech-enabled brokerage, allowing businesses to search for spaces, virtually tour the listings, negotiate price and sign lease documents all on Truss’ site. It also uses machine learning to help find properties that best fit a company's needs.
The startup says it has 30,000 spaces on its platform, including co-working, industrial and retail space for companies to search through.
"As Truss continues to grow, we will continue our commitment to providing price transparency and increased efficiency for small business owners looking for the perfect space for their businesses," Tom Smith, co-founder of Truss, said in a statement. "The increased resources will allow us to expand into more markets and grow our team, in turn yielding more available spaces in more places to our customers."
Along with Chicago, Truss is also available in Boston, South Florida, D.C., Maryland, Northern Virginia, Houston, Dallas, San Antonio and Austin.
Truss was co-founded by Andrew Bokor, who previously founded cybersecurity company Trustwave and sold it for $770 million.
