Firm to also expand predictive analytics abilities in the next year and half
Fresh from securing an additional $30 million in a recent round of fundraising, commercial real estate information firm Reonomy is looking to expand to Canada and Western Europe.
The latest round bought the company’s total fundraising to $68.4 million, after a 3-year pause in fundraising activity during which Reonomy expanded to 3,000 counties and 20,000 municipalities across the United States.
“We’ve tried to be disciplined,” CEO and co-founder Richard Sarkis stated. “I did not want to raise additional funds until the market was pulling us forward.”
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The platform currently maintains public data on more than 50 million commercial properties, which users can search with over 300 filters, notably ownership information. Reonomy is operating in partnership with more than two dozen firms, including industry giants like Avison Young and Cushman & Wakefield.
The company said that it is planning to develop occupier-focused products and refined predictive analytics capabilities in the next 12 to 18 months.
“We’re taking advantage of the fact there isn’t this common data standard,” Sarkis said.
