Reonomy has announced additional funding to help its push to become the primary source of data and analytics for commercial real estate.
The firm’s platform leverages machine learning and its own proprietary system of unique identifiers for commercial assets to provide property and portfolio analytics, and market insights.
It currently has information on more than 50 million properties, 80 million companies, 300 million people, 38 million mortgages, and 68 million property sales.
The latest Series D funding of $60 million – including backing from Wells Fargo Strategic Capital and Citi Ventures - brings the total raised to $128 million which will help expand the firm’s data capabilities and applications as well as drive international expansion to meet demand from markets including Canada and the UK.
"There is no end to the number of individuals, companies, and enterprises that have properties at the core of their businesses," said Reonomy CEO, Rich Sarkis. "Despite real estate being the world's largest asset class, the industry has been largely starved of cutting edge solutions to core business problems because of the opaque nature of property information. We're building a platform that connects the world of property information and empowers a new era of applications to unlock insights and opportunities for everyone. The investment will further strengthen our position as the system of record for properties and drive innovation around property intelligence."
The platform has more than 100,000 users and the firm has secured new preferred data partnerships with leading data providers CoreLogic, Black Knight and Dun & Bradstreet.
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