New Hope, Pa.-based Cecilian Partners, a proptech firm providing digital solutions for home builders and land developers, announced Wednesday, it had raised $11 million in its first institutional equity round.
Led by Resolve Growth Partners, the company said the investment money will be used to fund the company’s growth and market share amongst U.S. land developers and home buyers. The company plans to use the money to accelerate product innovation, expand headcount in critical areas and develop its client-centric customers success team.
“Being an entrepreneur is difficult. Growing the firm out of the basement of my house four years ago to thriving and growing in this current market is thrilling ¾ and receiving that term sheet from Resolve Growth Partners was a moment of validation and excitement for me and my team,” company co-founder and CEO John Cecilian, Jr. said. “This investment transitions us from a ‘scrappy start-up’ to a focused organization positioned to win. We are grateful to the team at Resolve and ready to accomplish meaningful growth and customer expansion.”
The company said that after examining hundreds of SaaS companies and conducting rigorous due diligence, Resolve chose Cecilian Partners based on the company’s revenue growth, business model and path to profitability.
“We’re thrilled to have the opportunity to partner with John and the rest of the team at Cecilian Partners to build the category-leading platform for land developers and home builders,” Resolve co-founder and managing partner Chris Rhodes said. “This market has traditionally been underserved by technology. Cecilian offers a first-of-its-kind solution to help its customers transform their businesses through digitization and a true partnership approach.”
The company said it plans to increase its workforce by 50 percent over the next 12-15 months, growing its headcount in Chicago, Ill.; Dallas, Texas; Raleigh, N.C.; and New Hope, Pa.