CompStak, a New York, NY-based marketplace for commercial real estate data, closed a $4.4m funding round.
The round was led by Canaan Partners, with strategic investment from dmg :: information (dmgi), Expansion VC and Rubenstein Partners.
The company, which brought total funding to over $10m, plans to use the new funds to grow the team, add more markets to its platform and further develop its new broker analytics platform, CompStak Exchange.
Launched in Manhattan in 2012 by CEO Michael Mandel, CompStak is a large marketplace for commercial real estate data. It gathers information through a proprietary crowd-sourced model, which offers virtual currency for real estate professionals that provide information and allows them to use this currency to acquire the data they need.
CompStak, which is free for brokers, appraisers, and researchers, has already expanded its platform to 12 U.S. commercial real estate markets including San Francisco, Washington DC, Chicago, Los Angeles and Dallas.
The company now employs 40 full- time employees.