Home News Juniper Square Lays Off 14 Percent of Staff

Juniper Square Lays Off 14 Percent of Staff

by admin
0 comment

Alex Robinson of Juniper Square (The Real Deal with Getty Images, illustration by Kevin Cifuentes on Linkedin)

Juniper Square has laid off about 14% of its workforce, joining the list of real estate tech companies laying off staff.

This San Francisco-based company creates software that allows general and limited partners in commercial real estate transactions to connect and communicate with each other. Its clients include top real estate players such as: tissue man spyerGreystar, Bell Partners.

“The workforce reductions targeted our sales organization and other ancillary functions. This decision is a response to changing macroeconomic trends and strengthens our already strong financial position,” said Juniper Square. A spokesperson said in a statement. “We will continue to actively hire on our customer service team and do not expect any disruption or impact to our ability to support our current and future customers.”

It is not clear how many employees will be laid off. The company declined to provide exact figures, according to LinkedIn, which has 469 employees.

“Some employees have been offered another opportunity at Juniper Square, and the process is still ongoing,” the spokesperson said.

Juniper raised $25 million in Series B funding in 2018 and $75 million Series C led by investor Redpoint Ventures. Participants include Ribbit Capital, Felicis Ventures and Zigg Capital.

The firm says its clients manage $800 billion worth of real estate.

Co-founder and CEO Alex Robinson said in announcing the company’s Series C:

Some proptech companies have struggled as funding has become more difficult. Rising interest rates have also led to fewer real estate transactions, reducing demand for technology to service real estate transactions.

In August, digital mortgage company Blend Labs cut 220 jobs.Also last month, Tishman Speyer-backed Latch, his smart-lock maker, said its financial statements for the first quarter of 2021 and 2022 were Untrusted.

You may also like