Reonomy said Tuesday that it has secured $3.7 million in Series A funding. SoftBank Capital led the round with participation from return backers Resolute Ventures, High Peaks Venture Partners, KEC Ventures and FinTech Collective. Also, Jeff Parker, the founder and former CEO of Thomson Financial, has been added to Reonomy’s board of directors. Based in New York City, Reonomy is a commercial real estate tech company.
New York, NY, March 18, 2014: Reonomy, the NYC-based commercial real estate (CRE) technology company that provides investors and lenders with data and powerful analytics to make faster, more secure, and informed decisions, today announced its $3.7 Million Series A. SoftBank Capital led the round with participation from existing investors Resolute Ventures, High Peaks Venture Partners, KEC Ventures, and FinTech Collective.
Reonomy is redefining CRE research by allowing investors, lenders and others to conduct quant-based analyses that currently take hours, days, or even weeks and execute them in a matter of clicks. Reonomy’s platform combines comprehensive property and market-level data collected across many disparate sources, proprietary validation algorithms, and powerful analytics.
“Reonomy aims to bring the same level of data transparency and quant-based rigor that is prevalent throughout capital markets to commercial real estate. With the help of our platform, investors and lenders can make the multi-million dollar decisions they face on a daily basis in a more efficient, informed and quantitative way. Because analyses take seconds to conduct with Reonomy’s platform, these same investors and lenders can widen their aperture and consider more opportunities,” said Rich Sarkis, Reonomy’s Co-Founder & CEO.
Reonomy launched a private beta in early March to select institutional investors, lenders and developers in the Greater New York market. Demand for participation in the beta was strong and the company plans to expand the roster of trial clients in early Q2. Over the next twelve months, Reonomy will use the investment to accelerate product development, expand to additional markets and develop for mobile. Josh Guttman, a General Partner at SoftBank Capital, will join Reonomy’s board as part of the financing round. Jeff Parker, the founder and former CEO of Thomson Financial, also joins Reonomy’s board of directors and participated in the round of financing.
Reonomy’s platform makes CRE property and market-level research simple. With Reonomy’s comprehensive and validated data coupled with powerful analytics, CRE investors and lenders can make faster, more secure, and informed decisions. More information about the company, its products, and career opportunities can be found at www.reonomy.com