US-based real estate data platform developer Reonomy, has raised $16m in financing from investors including MMC Technology Ventures, a subsidiary of property advisory and services group Marcus & Millichap.
The round was co-led by Bain Capital Ventures, a venture capital affiliate of private equity firm Bain Capital, and unnamed strategic investors. It included Jaws, Red Apple Group and an undisclosed amount of venture debt from Silicon Valley Bank.
Reonomy has built a data engine that aggregates, verifies and analyses real estate details covering factors such as property type, ownership and tenancy. The data can be accessed alongside identified trends in a cloud-based dashboard available to subscribers.
The funding will support business growth and customer adoption, and Reonomy intends to enhance the analytics on the platform along with the user experience. It has now raised $38.4m in funding since it was founded in 2013.
Telecommunications and internet firm SoftBank led the company’s $3.8m series A round in 2014 through its SoftBank Capital unit, investing together with FinTech Collective, Resolute Ventures, High Peaks Venture Partners and KEC Ventures.
SoftBank Capital, which has since been shuttered, subsequently backed a $13m series B round for Reonomy led by Bain Capital Ventures the following year, with contributions from Resolute, High Peaks, KEC Ventures, FinTech Collective and Solon Mack Capital.
Alex Yarmolinsky, managing director of MMC Technology Ventures, said: “Reonomy’s dedication to providing superior data and analyses will help the commercial real estate industry harness machine learning and data science.
“Their tools empower commercial brokers everywhere to achieve their goals with greater efficiency, and we are excited to become an investor in Reonomy.”