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Mexico-based Around raises $3.8 Million

Proptech Around, the “Netflix of real estate”, raised a $3.8 million seed round led by LEAP Global Partners, with the participation of Latitud Ventures, Ganas Ventures, Gaingels, Unpopular Ventures, August Hill, and a16z scout fund to expand from Mexico to the rest of Latin America.

Several top proptech founders and operators also joined the round, including Jonathan Wasserstrum, co-founder of SquareFoot (leading U.S. proptech); Jerónima Uribe, co-founder of La Haus; Jonathan McNulty, former vice president of product at Trulia and Zillow; Lucas Vargas, former CEO of VivaReal; and Conor Welsh, former global director for tax/legal operations at Airbnb; among others.

Based in Mexico City, Around converts vacant real estate into fully serviced office space with no exposure to fixed rents. The contract is generated by a monthly subscription.

Since launching during the peak of the pandemic in late 2020, Around has managed to reach $2.5 million in annualized revenue, projecting 5x growth for next year due to the steady increase in demand.

Around’s co-founders are Argentinean Martín Haiek and Mexicans Gerardo Vallarta and Alfonso Tinoco. Today, the proptech has a team of 21 people. 

In just one year they went from five clients to 100, with more than 120 locations in Mexico City, Guadalajara, and Monterrey.

The company plans to expand to major Latin American cities, starting in Sao Paulo, Brazil. Later on, the goal will be to reach Buenos Aires, Santiago, and Lima. 

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