CREtelligent secures $10 million credit facility from Espresso Capital
Sacramento, Calif. — December 14, 2021 — Espresso Capital announced today that it has provided CREtelligent, a one-stop commercial real estate (CRE) due diligence platform, with a $10 million credit facility. The company will use the capital to extend its runway and make strategic investments in its ongoing growth.
“Our RADIUS platform and CRE due diligence services have been embraced by the marketplace, putting us in hyper growth mode,” said Anthony Romano, CEO of CREtelligent. “So far this year, we’ve added over 175 clients and have completed three acquisitions with more on the horizon. The facility from Espresso ensures we can continue to run the play as we prepare for a larger equity raise in the spring.”
CREtelligent has grown its business by over 300 percent so far this year, adding 4,000 new users to its RADIUS platform as well as 40 new team members.
“The CREtelligent team has built a differentiated, cloud-based platform that simplifies the CRE due diligence process by enabling customers to order, check the status of, receive, and archive all property due diligence reports in one spot,” said Espresso Managing Director, Will Hutchins. “They have a high-quality product that their customers love and a seasoned management team with an expansive network, extensive industry experience, and a strong reputation for fantastic customer service.”
“Espresso’s team did an extraordinary job of understanding our market, company, and business plan,” noted Romano. “They moved expeditiously to get the facility in place so we didn’t miss a beat.”
“Anthony and the CREtelligent team have built a phenomenal business that is entering its next stage of growth,” said Lokesh Sikaria, Founder and Managing Partner, Moneta Ventures. “Their ability to postpone a large dilutive equity raise by tapping into Espresso Capital’s innovative financing facility will result in significantly increased value for all shareholders. We’re fortunate to partner with Espresso and CREtelligent.”
CREtelligent opened its doors more than six-years-ago as eScreenLogic, a Commercial Real Estate (CRE) environmental due diligence firm focused on desktop RSRA, Phase I, and Phase II site assessments and reporting for commercial lenders, insurance companies, and brokers. The company has grown quickly and market demand for a “one-stop” CRE due diligence platform that offers more than environmental expertise for lenders and corporate entities has become clear. As a result, we’ve expanded to offer not only our full-service Environmental reporting but Valuation, Flood, Full Portfolio Asset Risk Monitoring and a number of other “Platform-as-a-Service” offerings too.
Commercial Real Estate Due Diligence, Simplified isn’t just a tagline, it’s become our product development mantra. We are building the tools that you need to face the new markets we all find ourselves in today. This unique innovation-based approach enables our clients to make fast, accurate, and intelligent commercial real estate transaction decisions faster and simpler than ever before.
About Moneta Ventures
Moneta Ventures is an early-stage venture capital firm that invests in B2B technology companies. The investment team is based along the West Coast and Texas, and the firm’s investments are primarily located across those geographies as well. Prior to founding Moneta, the Partner team worked together for over two decades, starting and scaling high-growth operating companies. The Moneta team takes a hands-on approach to investing, striving to add significant value to our portfolio companies above and beyond capital investment.
About Espresso Capital
Espresso empowers companies with innovative venture debt solutions. Since 2009, we’ve helped more than 300 technology companies and their investors accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital. Learn more at espressocapital.com.
Head of Marketing, Espresso Capital