Real estate data platform Cherre has announced plans to expand its operations throughout the US and Canada after closing a $9 million seed funding round.
Formally launch in December, Cherre also said that it will use funding from the round to meet demand for service from its existing clients. The company provides large enterprises, insurance companies, banks, and investors with a platform to collect, augment, and resolve property data in real-time from thousands of public, private, and internal sources.
"Many of the world's biggest industries are increasingly looking to harness the power of real-time data and to reevaluate their use of data in their core business functions," Cherre CEO L.D. Salmanson said. "Cherre has seen an incredible adoption rate from financial institutions, insurance companies, real estate investment groups and brokerages, and dozens of other large corporations. With a new group of investors now on board, we are poised to take our platform and data insights to even more companies looking to take their business to the next level."
Cherre’s data platform is modeled after high-frequency trading platforms. The platform provides users with clean, accurate, and up-to-date information such as property history, demographics, and market comparisons to use in advanced analytics.
Navitas Capital led the round and was joined by Carthona Capital, iLOOKABOUT, Dreamit Ventures, and Red Swan Ventures. Pre-seed investors in the company include Recursive Ventures, Sarona Ventures, Wharton Angel Group, Harvard Angel Group, New York Angels, and Angel Investor Forum.