Reonomy, an AI-powered data platform for the commercial real estate (CRE) industry, announced this morning it has raised $60 million in Series D funding led by Georgian Partners.
The financing nearly doubles the amount of funding previously raised by New York-based Reonomy for a lifetime total of $128 million, according to the seven-year-old company.
Reonomy’s self-proclaimed mission is “to become the primary source of data and analytics for commercial real estate.” It uses machine learning and artificial intelligence to give its users access to “in-depth property details and analysis across the US,” per its website.
Reonomy co-founder and CEO Rich Sarkis told me he was initially laser-focused on crunching and validating “lots of public and private (CRE) data so that everyone from the broker, lender and developer could use it to do their jobs more effectively.”
Regionally, Reonomy’s focus was at first on the New York market but has since expanded to cover all the major metros of the United States, which was not an easy task until the company turned to using machine learning and AI, according to Sarkis.