Reonomy, a New York City-based commercial real estate tech startup, raised $3.7m in Series A funding.
The company intends to use the funds to accelerate product development, expand to additional markets and develop for mobile over the next twelve months.
The round was led by SoftBank Capital with participation from existing backers Resolute Ventures, High Peaks Venture Partners, KEC Ventures, FinTech Collective and Jeff Parker, the founder and former CEO of Thomson Financial. In conjunction with the funding, Josh Guttman, a General Partner at SoftBank Capital, and Parker joined Reonomy’s board of directors.
Led by Rich Sarkis, Co-Founder & CEO, Reonomy operates a commercial real estate (CRE) technology platform that provides investors and lenders with comprehensive property and market-level data (collected across disparate sources) and analytics to make informed decisions.
The company launched a private beta in early March to select institutional investors, lenders and developers in the Greater New York market and plans to expand the roster of trial clients in early Q2.