WeWork, Cushman & Wakefield Form New Partnership With CRE Data Startup
Fresh from raising $16M in a funding round earlier this year, PropTech startup Reonomy has announced it has formed data partnerships with WeWork, Cushman & Wakefield and Avison Young.
The New York City company provides property data and proprietary analytics. It now has more than 20 data partners, including brokerages like Newmark Knight Frank, as well as occupiers, institutional investors and hedge funds, it said in a release.
“For years, sophisticated CRE firms have been trying to cleanse their data and stitch together property details across multiple data schema,” Reonomy co-founder and CEO Richard Sarkis said. “Our entity resolution API streamlines that process for them, and sets them up with an enterprise-wide solution to improve CRE data management.”
Reonomy was formed by Sarkis and Charlie Oshman in 2013, and has since raised $38.4M with funding from investors like SoftBank, WeWork's lead investor, and debt investor Silicon Valley Bank.
Its most recent funding round in February was led by Bain Capital. Last year, Reonomy launched a national expansion that covered in excess of 45 million commercial properties across 3,000 counties.
The data partnership allows companies to use Reonomy's tools to bring data from multiple parties, including outside firms, and streamline it to one property with one Reonomy ID.
“Data is at the heart of how we conceptualize, analyze and develop our locations. From providing WeWork with leading industry intelligence to powering database efficiency, Reonomy’s enterprise products play an instrumental role in our data initiatives," WeWork Chief Growth Officer Dave Fano said in a statement. "They’ve become a strategic and valued partner to our growth and real estate teams.”