New Hope’s Cecilian Partners Raises $11M After Tripling Revenue

New Hope real estate technology firm Cecilian Partners has raised an $11 million Series A after tripling its revenue.

The funding round was led by Baltimore-based Resolve Growth Partners. Founded in 2019, Cecilian Partners creates software platforms and other technology for homebuilders and homebuyers. CEO John Cecilian Jr. said that the fresh capital will be invested into software development, an “aggressive strategic marketing campaign” and hiring.

The company has grown quickly in a short amount of time and Cecilian said the company raised capital to “mirror that growth.” It tripled annual revenue in 2022 and is on track again to do the same this year. Cecilian declined to disclose current specific revenue figures, but said his goal is to reach $10 million in annual recurring revenue in the next two to three years.

Headcount has tracked that progress as well. The plan is to increase headcount by about 50% in the next year from 32 people currently to 45 to 50 by next September, Cecilian said. Cecilian Partners has 13 people working out of its 4,500-square-foot Bucks County office, with plans to be at 17 by the end of the calendar year, Cecilian said. In the past 12 months, Cecilian Partners has also increased its client base 65% to 150 current customers.

As headcount and revenue grow, so too will footprint. Cecilian is looking to open a “formal satellite” office in Dallas-Fort Worth that would house a handful of employees. Dallas-Fort Worth, along with Houston and Austin represent about a third of Cecilian Partners’ customer base currently.

“We know we need to raise a brand flag out there and really give ourselves a physical presence,” Cecilian said.

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