According to multiple reports, CompStak, a NYC-based startup that operates a crowdsourced real estate info platform, has raised $565k in seed funding.
The round was led by 500 Startups, where the company is incubated, with participation from Silicon Badia, Expansion Capital, Ryan Slack, Jonah Goodhart, and Matt Grodin.
Co-founded by Michael Mandel, CompStak uses a crowd-sourced model to gather real estate information used by brokers, landlords, appraisers and researchers, who also submit comps on completed commercial lease transactions, receive points for submitting comps, and may use those points to buy other comps. The company is now building a comprehensive database of all of the commercial lease deals completed in a given market, and sells data to real estate private equity funds, asset managers, banks, REITs, hedge funds, etc.
CompStak is setting up an office in Mountain View.