Banner Technologies

About Banner Technologies

Banner Technologies provides a software platform designed for commercial real estate (CRE) owners and developers to manage capital expenditures. Co-founded in 2019 by Mark Murphy, who has a background in real estate finance, and Kunal Chaudhary, the company aims to replace spreadsheets for tracking and managing real estate development spending. The New York-based firm is a Y-Combinator graduate from the Summer 2019 batch.

The company's platform functions as an operating system for real estate teams, centralizing communications, workflows, and file sharing related to property projects, from acquisition to disposition. It automates administrative work and offers features for budgeting, cost tracking, bidding, approvals, and cash flow forecasting. By integrating with accounting systems like Yardi and MRI Software, the platform provides real-time visibility into portfolio and property-level capex spending, aiming to reduce manual data entry and save on project costs.

Banner serves institutional real estate owners and developers across various asset classes, including multi-family, office, and co-working spaces. The business model is software-as-a-service (SaaS). The company has secured significant funding, including a $10 million Series A round in October 2023, with investors like Blackstone Innovations Investments, Fifth Wall, and Pruven Capital participating.