Real estate data firm Reonomy hauls in $60M
Funding round backed by Citibank and Wells Fargo
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.
Read more We Work story
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.