Janover Inc (NASDAQ: JNVR), on Thursday, provided an update on its wholly-owned subsidiary Groundbreaker Tech Inc (Groundbreaker), its recurring revenue B2B Software-as-a-Service (SaaS) platform for multifamily and commercial property professionals.
Janover recently acquired Groundbreaker in November 2023 and reports that this new business line achieved profitability for the first time in May 2024, reflecting a sequential monthly increase in its operating margins by more than 700% to approximately 30% from -4% in April 2024.
Groundbreaker is a specialized SaaS platform that simplifies capital raising and investment administration in the commercial real estate industry.
Offering an intuitive portal at groundbreaker.co enables real estate professionals to efficiently manage equity capital, investor relations, and document sharing, fostering a seamless and professional investment experience.
The platform also facilitates secure financial transactions and offers robust customer relationship management tools to enhance transparency and engagement between property developers and investors.
Blake Janover, CEO of Janover, stated, “We expect this positive trend to continue to improve in June and throughout the rest of the year. Since acquiring Groundbreaker, we have integrated it into Janover’s ecosystem, leveraging our highly automated, AI-enhanced sales and marketing funnel and our suite of services. The synergies from the Groundbreaker acquisition we believe will result in stickier, happier clients.”
Price Action: JNVR shares are trading flat at $0.90 at the last check on Thursday.
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