Post-Series A Funds to Boost Cove's Sales Team Amid Rapid Growth

Cove, a property operations and tenant experience platform, announced the closure of a $6 million post-Series A funding round. Led by Nuveen Real Estate, the round saw participation from ORG Portfolio Management, O’Shaughnessy Ventures, and existing investors like Blackstone Innovations Investments and Kastle Systems.

Nuveen's global head of innovation and proptech, Jeanne Casey, highlighted Cove's superior technology and team as key factors for the investment, aiming to consolidate systems and enhance user experience across large real estate portfolios. Cove plans to use the funds to expand its sales force, driven by significant growth in its client base and sectors like industrial and life sciences properties.

Co-founder and CEO Adam Segal emphasized the strong alignment with Nuveen and the organic growth of the company, with potential plans to expand to the U.K. and raise another funding round in 2025. The company received Realcomm’s Best Tech Innovation award for intelligent buildings in 2023, attributing its success to the technological leadership of co-founder and CTO Jeremy Scott.

Original article posted on July 25, 2024