Yongle Technologies Inc, a Vancouver-based real estate software company for presales, has raised $1.5 million in seed-stage financing. The round’s investors were not identified. Launched in 2014, Yongle offers a web-based real estate sales engagement, contract and document generation and management tool. It reports having launched more than 50 projects, representing more than $5 billion in presales, with developers and project marketers in Ontario, British Columbia and Alberta since 2016. Led by President and CEO Richard Bell, it will use the funds raised to hire staff for its U.S. expansion and new product offerings.
PRESS RELEASE
Yongle Raises Seed Funding
VANCOUVER, British Columbia, Nov. 07, 2017 (GLOBE NEWSWIRE) — Yongle Technologies Inc., Canada’s leading real estate software company for presales, has raised $1.5M in Series Seed funding.
Yongle recently reached new heights when it was selected as the platform to launch Canada’s tallest condominium building. The One Condo developer, Mizrahi Developments, chose Yongle’s software for the sale of its 85 storey project at Yonge and Bloor. Sam Mizrahi, President of Mizrahi Developments said: “Implementing Yongle into our sales process was a game changer. Considering the scale of our launch, it was important that Yongle’s software was reliable and time saving. Yongle exceeded expectations, allowing our team the time to engage with customers instead of tediously administering contracts.”
The first condominium sales centre to implement Yongle’s software launched in British Columbia in April 2016. CEO and President, Richard Bell, stated “The adoption rate has been incredible. We knew the technology would be impactful but did not really appreciate the magnitude of the pain for developers and project marketing companies running a paper-based process. Our technology eliminates paper, errors and rekeying of information and provides clients with real time data that enables them to manage the sales process anytime from anywhere minute by minute.”
Since April, 2016, Yongle has launched over 50 projects, representing more than $5 Billion in presales, with developers and project marketing companies in Ontario, British Columbia and Alberta. rareEarth Project Marketing President and CEO, James Askew was the first to deploy the technology. He commented: “We were pleased to be the first to launch the Yongle software as we could see that the technology was exactly what the industry needed. I am not surprised by Yongle’s success. It has quickly become the industry standard.”
Yongle intends to use capital for hiring the needed talent to expand into the United States in 2018 and begin offering additional products to assist developers, project marketing companies, buyers and the real estate community.
Yongle Technologies Inc. is a privately held company with offices in British Colombia and Ontario.
For more information contact: Tyler Proud, COO, tyler.proud@yongletechnologies.com.
Photo courtesy of Yongle Technologies Inc