Reonomy Raises USD 60 Million to Expand AI Driven Features

By StartUp City | Friday, November 08, 2019

Rich Sarkis, CEO

Reonomy offers a platform that connects and interprets complicated property information, enabling applications that empower the users to make well-informed property centric decisions. This platform makes use of machine learning and the Reonomy ID, a unique identifier for every commercial asset that connects data on properties, companies, and people.

FREMONT, CA: Reonomy, Artificial Intelligence (AI) powered data platform for commercial real estate industry, raised USD 60 million in a Series D funding round led by Georgian Partners, with participation from Wells Fargo Strategic Capital and Citi Ventures, and existing investor Sapphire Ventures. The company had raised USD 30 million in its Series C funding round and was valued at USD 153 million. With the addition of this funding, the company has a total raised capital of USD 188 million and a valuation above USD 200 million.

"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."

Reonomy offers a platform that connects and interprets complicated property information, enabling applications that empower the users to make well-informed property centric decisions. This platform makes use of machine learning and the Reonomy ID, a unique identifier for every commercial asset that connects data on properties, companies, and people. The company plans to use this additional funding 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.

"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," said Emily Walsh, Principal at Georgian Partners. "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 were previously unattainable." 

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