Bisnow Scoop: Former Blackrock CFO Is Latest Investor In ResiModel
ResiModel, an online, subscription-based platform for expediting and analyzing multifamily deals, tells Bisnow its latest round of investors includes Symmetrical Ventures, a tech VC firm led by former BlackRock vice chairman and CFO Paul Audet. ResiModel CEO Elliot Vermes (pictured) declined to say how big Symmetrical’s contribution was, but he says the startup has hit about $4M in funding as it works towards opening its Series A funding round.
Last year it was estimated that about $1.4B was invested in real estate tech startups. Elliot says the deal’s significant in part because some of the real estate tech firms popping up aren’t going to make it. “There’s gonna be a shakeout, since a lot of real estate tech firms have been formed,” he says. “People are increasingly careful about where they put their money now because they recognize that.”
About 4,000 transactions have been entered into the platform since its launch in 2013. Elliot tells us the client count at the end of last year stood at around 70 and has roughly doubled each year since the platform’s launch. Former Hunt Mortgage Group president Rob Wrzosek has also joined the company’s advisory board.