GeoPhy, a Delft, The Netherlands-based, powered real estate valuation platform, secured $33m in Series B funding.
The round was led by Index Ventures with participation from existing investors Inkef Capital and Hearst Ventures. In conjunction with the funding, Jan Hammer, Index Ventures partner, joined GeoPhy’s board.
Co-founded by two former architects, Teun van den Dries (CEO) and Sander Mulders (CTO), GeoPhy provides an AI-powered real estate valuation platform that aims to bring transparency and accuracy to the global property market.
Currently focused on commercial real estate (CRE), the technology captures thousands of data-points from public and private sources, including satellite images and sales data, scours a database of 150 million property records for relationships between asset values and features such as location characteristics, demographics, and economic data like interest rates and stock indices, also considering innovative ‘hyperlocal’ factors such as transport links, green spaces, density of independent coffee shops, crime rates, and reviews for local businesses.
GeoPhy has received interest from a wide-spectrum of clients including major rating agencies, banks, pension funds, investors, national regulators and large government-backed enterprises in the US and Europe.
Customers include Fannie Mae, the US mortgage provider, FTSE Russell, the British corporation that sells stock market data services, and Walker & Dunlop, the US-based CRE finance and lending group.
The company also has offices in New York, London and Kaunas (Lithuania).