real-estate-fintech
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Fifth Wall Built a Venture Fund With a Customer List Attached
The Los Angeles firm turned real estate's slow technology adoption into a distribution strategy: owners supply capital and operating problems, while startups bring the software, hardware and climate tools.
Mark Murphy
Mark Murphy is the co-founder and CEO of Banner (withbanner.com), a New York proptech building the capital-expenditure operating system for commercial real estate. After years in real estate finance at Goldman Sachs and RBC Capital Markets, he watched institutional owners run billion-dollar capital projects on spreadsheets, email threads, and disconnected tools, and started Banner in 2019 with college friend Kunal Chaudhary to replace that mess with one platform. Backed by Y Combinator (S19), Blackstone, Fifth Wall, Pruven Capital and Basis Set Ventures, Banner raised a $10M Series A in October 2023 and now oversees more than $10 billion in capital spend for operators like Starwood Capital, LivCor, Morgan Properties and Industrious.