Cadre Acquisition, Valuation, Funding & Investors

Cadre was acquired by Willow Wealth in November 2023.

See full Cadre profile

Cadre acquisition price

Undisclosed

Acquired by Willow Wealth · Nov 2023

Cumulative funding Cadre raised

$133M

across 3 funding rounds

Key investors in Cadre

  • General Catalyst
  • Khosla Ventures
  • Goldman Sachs
  • Recharge Capital
  • Andreessen Horowitz
  • Founders Fund
  • Thrive Capital
  • Lakestar

Cadre Overview

About Cadre

Cadre is a digital platform facilitating real estate investments by linking institutional and accredited investors with property operators. New York-headquartered since its 2014 launch, it offers primary fund investments, co-investments in stabilized assets, and a secondary marketplace for trading ownership interests. The technology stack provides deal sourcing, portfolio analytics, asset management tools, and liquidity options, serving high-net-worth individuals and family offices managing billions in assets across multifamily, industrial, and office sectors.


Founded

2014

HQ

United StatesNew York City, NY

Website

cadre.com

Status

Acquired

Customer focus

B2B

Revenue model

Commission, Subscription

Valuation

$800M (Jun 2017)

Cadre Acquisition

Cadre was acquired by Willow Wealth for an undisclosed price on 30 November 2023.

Before the acquisition Cadre had raised $133M across 3 funding rounds.

Cadre acquisition details
AcquirerDateType
30 Nov 2023Strategic M&A

Cadre Valuation

Cadre is currently valued at $800M, based on its Series C in June 2017.

The $65M round was led by Andreessen Horowitz, with participation from Breyer Capital, General Catalyst, Class 5 Global, Goldman Sachs, Khosla Ventures and 2 other investors.

Cadre's valuation has grown 8.0x from $100M at its Series A in March 2015 to $800M in June 2017, across 2 priced rounds.

Cadre valuation by funding round

Cadre valuation by funding round
DateStageValuation
Jun 2017Series C$800M
Mar 2015Series A$100M

Cadre Funding History

Cadre has raised a total of $133M across 3 funding rounds.

Cadre's first fundraising round was a $18M Series A in March 2015. The most recent completed round was a $65M Series C in June 2017.

Cadre funding rounds

Cadre funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2017Series CAndreessen Horowitz (lead); Breyer Capital; General Catalyst; Class 5 Global; Goldman Sachs; Khosla Ventures; Thrive Capital; Ford Foundation$65M$800M-
Jan 2016Series BApoletto Managers; Goldman Sachs; Wendi Murdoch; Recharge Capital$50M--
Mar 2015Series AGeneral Catalyst; Jaws Ventures; ACME Capital; Gin Lane; Michael D. Fascitelli; Khosla Ventures; Founders Fund; Andrew Farkas; Lakestar; Jon Winkelried; Recharge Capital; HDS Capital$18M$100MCadre is a real estate technology platform founded in 2015 by Ryan Williams (ex-Goldman Sachs and Blackstone), Joshua Kushner (Thrive Capital), and others, aimed at modernizing commercial real estate investing by providing a technology-driven framework to connect institutional capital with opportunities, replacing outdated tools like Excel files. The company secured a $18.3 million seed or early funding round on March 24, 2015, from Thrive Capital, General Catalyst, and angels including Andrew Farkas, Jon Winkelried, Michael D. Fascitelli (Vornado CEO), with additional investors like SL Green Realty. A $250 million backstop from a large family office (not Kushner-related) and commitments from 50 family offices/endowments were secured early, with Jared Kushner advising briefly. The 10-person team at launch included tech talent from Square and finance experts from Warburg Pincus, positioning Cadre as a members-only platform for high-net-worth investors to access commercial and residential real estate deals. Subsequent rounds included $50 million in 2016 and $65 million Series C in 2017 led by Andreessen Horowitz, achieving over $800 million valuation post-Series C, with over $1 billion in deals originated by then. Cadre evolved into a broker-dealer (RealCadre LLC) and investment adviser (CCV LLC), earning commissions like $4.5 million from brokering nine private offerings between March 2015 and April 2017. Later milestones: $400 million Direct Access fund in 2021, Cadre Direct Access Fund II in 2023 targeting $500 million, and acquisition by Yieldstreet in 2023, with Ryan Williams remaining CEO of the independent subsidiary.

Who has invested in Cadre?

20 investors have backed Cadre across its funding rounds, including General Catalyst, Khosla Ventures, Goldman Sachs, Recharge Capital, Andreessen Horowitz and Founders Fund.

Lead investors include Andreessen Horowitz.


Cadre Investors

Investors in Cadre by funding rounds participated
InvestorHQRoundsRoleFirst check
General CatalystUnited StatesSan Francisco, CA2ParticipantMar 2015
Goldman SachsUnited StatesNew York City, NY2ParticipantJan 2016
Khosla VenturesUnited StatesSan Francisco, CA2ParticipantMar 2015
Recharge CapitalUnited StatesNew York City, NY2ParticipantMar 2015
Breyer CapitalUnited StatesSan Francisco, CA1ParticipantJun 2017
Jaws VenturesUnited StatesMiami, FL1ParticipantMar 2015
Apoletto ManagersHong KongHong Kong1ParticipantJan 2016
Class 5 GlobalUnited StatesSan Francisco, CA1ParticipantJun 2017
ACME CapitalUnited StatesSan Francisco, CA1ParticipantMar 2015
Gin LaneUnited StatesNew York City, NY1ParticipantMar 2015
Michael D. FascitelliUnited StatesNew York City, NY1ParticipantMar 2015
Andreessen HorowitzUnited StatesSan Francisco, CA1LeadJun 2017
Wendi MurdochUnited StatesNew York City, NY1ParticipantJan 2016

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Cadre Competitors

Cadre competitors include listed companies like Upwork and Izumi Co, and private ones like Tul, Provi, Reibus and Globality.

Public and private companies comparable to Cadre
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
TulColombiaBogotáPrivate--$800M-
ProviUnited StatesChicago, ILPrivate--$750M-
ReibusUnited StatesAtlanta, GAPrivate--$750M-
GlobalityUnited StatesSan Francisco, CAPrivate--$900M-
UpworkUnited StatesUnited StatesPublicly listed$788M$180M$1.1B1.1x
Izumi CoJapanJapanPublicly listed$3.7B$300M$1.4B0.6x

Cadre Public Comps

Cadre is no longer listed, but its public comps include EverQuote, Bengo4.com, AUCNET, Timee, Ixigo, WeBuyCars, ATRenew, UT Group, Trainline and Web Travel Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
EverQuote$693M$62M0.9x0.8x9.9x5.5x
Bengo4.com$105M$19M7.7x6.9x43.8x33.0x
AUCNET$412M$63M1.4x1.3x9.3x7.5x
Timee$132M$23M6.3x2.8x36.0x13.5x
Ixigo$128M$8M5.0x4.5x83.7x57.8x
WeBuyCars$1.6B$90M0.5x0.5x9.7x8.6x
ATRenew$3.1B$84M0.2x0.2x8.2x6.6x
UT Group$1.1B$82M0.7x0.7x9.4x9.2x

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Common questions about Cadre

When was Cadre founded?Cadre was founded in 2014.
Where is Cadre headquartered?Cadre is headquartered in New York City, NY, United States.
Is Cadre publicly listed?No, Cadre was acquired by Willow Wealth in November 2023.
Who acquired Cadre?Cadre was acquired by Willow Wealth in November 2023.
What is Cadre's valuation?Cadre was last valued at $800M in its Series C in June 2017.
How much funding has Cadre raised?Cadre has raised $133M across 3 funding rounds.
What was Cadre's last funding round?Cadre's last funding round was a $65M Series C in June 2017, led by Andreessen Horowitz.
Who are Cadre's investors?Cadre's investors include General Catalyst, Goldman Sachs, Khosla Ventures, Recharge Capital, Breyer Capital, Jaws Ventures, Apoletto Managers, Class 5 Global, ACME Capital, Gin Lane and 10 others.
Which companies are comparable to Cadre?Companies comparable to Cadre include Tul, Provi, Reibus, Globality, Upwork and Izumi Co.

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