07 November 2019, India:
Property Intelligence firm Reonomy has raised $60 million in Series D round of funding. The funding round was led by Georgian Partners.
Wells Fargo Strategic Capital, Citi Ventures, and Untitled Investments also participated in the funding round.
With this funding, Reonomy has raised $128 million to date.
The company will use the fresh funds to expand its machine learning capabilities and platform-driven applications in its efforts to continue developing the most robust and comprehensive CRE data solutions available in the market.
The company will also use the fresh capital for it’s international expansion.
Rich Sarkis, CEO, Reonomy, said, “There is no end to the number of individuals, companies, and enterprises that have properties at the core of their businesses. 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.”
Rich Sarkis, added, “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.”
Emily Walsh, Principal at Georgian Partners, said, “Reonomy has developed a powerful platform to integrate and resolve sources of commercial real estate data into a single, unique identifier for every CRE asset in the United States.”
Emily Walsh, added, “This unique identifier is being leveraged by some of the largest enterprises in the world to tie together their public, proprietary, and third party data sources and to create a level of visibility into real estate assets that was previously unattainable.”
(Image – Reonomy)