Reonomy, a massive database of commercial property intel, raises $60M
The property industry — covering people and businesses that invest in, build, purchase or rent, and maintain property — is hugely fragmented when it comes both to data sources, and the companies that work within it. Today, a New York-based startup that is building a database that helps bring all of that together is raising a round of growth funding to help it expand outside of the US.
Reonomy — a startup that ingests some 100 sources of data, including multiple public and proprietary data feeds and crowdsourced information, and then uses artificial intelligence to crunch it to provide market intelligence that is used by developers, investors, acquirers and anyone else who works in the area of commercial property (otherwise known as commercial real estate, CRE, ranging from buildings zoned for business through to multi-dwelling units, but not single private homes) — has closed a Series D round of $60 million.
Today, the company has over 100,000 customers — with single customers sometimes covering multiple users — along with a database covering some 50 million properties, accounting for some 99% of the commercial inventory in the country. In all, the database also has 80 million companies, 300 million people (those