PropTech Firm Reonomy Raises $30M In Series C Round Of Investment
Reonomy has received its biggest capital infusion yet as it grows its influence in commercial real estate.
The PropTech firm announced Thursday it closed a Series C funding round after raising $30M led by Sapphire Ventures. Previous investors Bain Capital and SoftBank also participated in the funding round, which brought Reonomy up to $68.4M in total funding.
The announcement came about six weeks after Reonomy announced partnerships with major real estate companies like Avison Young and Cushman & Wakefield, as well as coworking industry leader WeWork. WeWork is also funded in large part by SoftBank, and the Japan-based fund is in talks to give the coworking giant another capital infusion that could push its value up to $40B.
Founded by CEO Richard Sarkis, Reonomy expanded nationwide last year. It has since built a database of 50 million commercial properties, 80 million companies, 150 million unique ownership contacts, 8 million mortgages and 20 million property sales, according to the company's press release.