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Congratulations to portfolio company Reonomy on raising its $30m Series C, led by SAP-affiliated Sapphire Ventures with participation from existing investors Bain Capital Ventures and SoftBank Capital. Since expanding outside NYC with its nationwide product, the company's growth has accelerated tremendously over the last 18 months.
The company is exploring opening an office on the U.S. West Coast and possibly London. Venture capital in recent years has plowed more than $2 billion into scores of property-focused start-ups known as “proptech” firms that are trying to tap growing reams of data in commercial real estate. Reonomy raised funds in February from the family office of real estate mogul Barry Sternlicht, chairman of investment firm Starwood Capital Group and Starwood Property Trust Inc (STWD.N), a real estate investment trust and billionaire businessman John Catsimatidis, among others.
