Sapphire Ventures led the round
Proptech startup Reonomy has raised $30 million in a Series C round led by Sapphire Ventures. This brings the total money raised to $68.4 million.
How it works: The data company gives users access to information about commercial properties. Data includes building info, lot dimensions, mortgages, and other pertinent information. Owners who are constantly cold-called by brokers should blame them!
Worth Noting: This comes just nine months after the startup raised $16 million in a Series B. With investors continuing to pour money into CRE tech startups, founders are reluctant to turn down the money. Who knows when the madness will end?
Something to ponder: VC’s invest with expectations for exponential growth. They are content if a company burns to the ground in pursuit of greatness — building a mediocre business is the ultimate failure! While excess capital affords startups the opportunity to become the next Amazon, traditional thinking runs counter to this ethos… Sometimes steady growth prevails in the long run.