“The professionalism of our communications and our investor portal, underpinned by Juniper Square, enabled us to attract more capital and get higher levels of commitment,” says Mosch.
“Juniper Square enables us to provide a secure communication channel for our investors, and a centralized system that can protect their most sensitive information,” Mosch explains. “We now store documents, tax information, wiring instructions, and investor distribution instructions in Juniper Square.”
“By using Juniper Square to handle communications, we can generate statements ten times faster than we could when we were doing mail merges with Excel.”
AndMark Management Company is a real estate investment firm based in Los Angeles, California. AndMark’s investment strategy focuses on multi-family properties in secondary and tertiary markets throughout the United States. By targeting opportunities that fly below the radar of larger firms, AndMark strikes a balance between low-risk and high-yield investments. In 2015, their first fund closed at $4.8M, and the firm has since raised a total of five funds, with their latest fundraise closing at $91M. AndMark has raised over $200M in outside commitments from over 200 high-net-worth investors and several family offices.
Within two years of their first fundraise, AndMark was managing $50M in outside capital commitments and deploying their third fund. Because of their growth, AndMark’s investor base began to include small family offices in addition to their existing network of high-net-worth investors.
With Fund IV on the horizon and anticipating further expansion, AndMark made the investor experience a top priority. “It became more important to have secure systems that would make investors feel comfortable,” says founder and CEO Mark Mosch. “We needed to present a more professional front to our investors.”
At the time, AndMark’s back office was a patchwork of Excel spreadsheets, Dropbox folders, and Outlook mail merges. “It didn’t look like a cohesive system,” Mosch recalls. To meet their ambitious fundraising goals, AndMark needed a system that would scale and instill trust in their investors. “We got by when we were small,” Mosch adds. “But our old way of working just wasn’t viable as we grew.”
Search for a Solution
AndMark considered a number of software solutions, but many of the options suffered from high costs and overly complex workflows. They needed something intuitive, accessible, and reasonably priced.
“We had a lot of questions when we spoke with Juniper Square,” says Mosch. “Their demo team was flexible rather than sticking to a script. That made us feel comfortable. We were pleased with the industry best-practice knowledge that was embedded in their culture.”
“The more we got into it, the more it seemed to be a great solution both from an ease-of-use and comprehensiveness standpoint,” Mosch notes. “We felt that the cost was very modest for the benefits it delivered.”