Real Estate Platform, Lessen, is raising $400 million in new Series C funding round

Lessen, Inc. has just authorized a new Series C preferred stock which could increase the valuation to $2.27 billion if all Series C shares are issued. The real estate property services company is previously backed by Navitas Capital, General Catalyst, Khosla and Fifth Wall. The most recent Series C round follows $170 million raised for Series B. The terms surrounding the Series C include pari passu liquidation preference with all other preferred, and conventional convertible meaning they will not participate with common stock if there are remaining proceeds. The most recent price per share is $12.9463, an up round from Series B at $9.5435.

Here is how they are currently tracking against the Prime Unicorn Index: