Real estate data firm Reonomy hauls in $60M

Funding round backed by Citibank and Wells Fargo

TRD New York /
Nov.November 07, 2019 02:26 PM
Reonomy CEO Rich Sarkis (Credit: Reonomy, iStock)

Reonomy CEO Rich Sarkis (Credit: Reonomy, iStock)

New York–based real estate data firm Reonomy has raised another $60 million.

The company, which provides information on close to 50 million properties across the U.S., said Thursday that Canadian firm Georgian Partners had led the series D funding round. The venture investment arms of major banks Citi and Wells Fargo also joined the round, as did existing investor Sapphire Ventures.

The firm, which was launched in 2013 by Rich Sarkis, has now raised $128 million in total. A $30 million funding round last year was backed by SoftBank Group and Bain Capital Ventures.

Sarkis said his firm had seen “a lot of traction” in the past 12 months from large financial institutions, which led to Citi Ventures and the Wells Fargo entity joining the funding round.

The company said it would use the new funding to double down on its machine-learning capabilities, which can help it merge splintered property data sets from across the country. This year, the firm has announced a series of partnerships with property data firms, including Black Knight and CoreLogic.

The funding would also be used to scale to other markets, including Canada and the U.K., the company said.


Related Articles

arrow_forward_ios
Reonomy's Rich Sarkis (Credit: iStock)

Reonomy is signing “exclusive” partnerships with data providers, but it’s not clear what that means for competitors

(Credit: iStock)

It’s over for Barneys: Luxury retailer to be sold, stores closed

Ribbon CEO Shaival Shah (Credit: iStock, Pixabay)

Ribbon raises $330M to aid all-cash buyers

(Credit: iStock)

S&P hits another record, but real estate stocks don’t follow suit

Soho House New York at  29-35 9th Avenue and Soho House CEO Nick Jones (Credit: Getty Images, Google Maps)

It doesn’t turn a profit, but Soho House is now valued at $2B

Lenders issued the most mortgages in 14 years last quarter (Credit: iStock)

Nonbank lenders could give serious boost to cooling housing market

Prologis CEO Hamid Moghadam and Liberty Property Trust CEO Bill Hankowsky (Credit: Prologis, B.PHL, iStock)

Prologis to buy rival logistics firm for $13B

Trump International Hotel in Washington D.C. and President Donald Trump (Credit: Getty Images, iStock)

Trump Organization might sell its controversial Washington D.C. hotel

arrow_forward_ios