PropTech Firm Reonomy Raises $16M In New Funding Round, Partners With NKF
The New York-based company, which offers a slew of property data and proprietary analytics, announced the completion of a $16M funding round led by Bain Capital, which had participated in previous funding rounds. Also investing in Reonomy were new players Red Apple Group, Barry Sternlicht (independent of his position as Starwood Capital Group CEO) and MMC Technology Ventures, an affiliate of Marcus & Millichap.
All told, Reonomy has raised $38.4M since it was co-founded by Richard Sarkis and Charlie Oshman in 2013, with investors such as SoftBank and debt investor Silicon Valley Bank, which also contributed debt financing in the latest round. Oshman left the company in 2016 and is now chief operating officer at Delshah Capital.
Reonomy also announced that, earlier this year, it entered into a partnership with Newmark Knight Frank, wherein the tech firm will provide enterprise-level data and application programming interface at a level beyond what it offers its subscribers.
“We are looking to integrate several systems into a single interface to create a game-changing tool for our professionals,” NKF Chief Technology Officer Raj Bhatti said in statement. “Reonomy is a core part of the sophisticated resource we are building."
Reonomy has partnered with other major brokerages, investment firms and developers, according to Sarkis, who could not disclose any more names.