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CompStak raises $12M Series B

Co-founder and CEO Michael Mandel (Credit: CompStak)

CompStak has raised a $12 million Series B round led by AI Capital Group, the company announced in a press release. The data platform has now raised over $28 million to date.

What they do: The startup uses a crowd-sourced model to help gather leasing and sales comps from brokers. By submitting key metrics such as NOI, cap rates, effective rent, and concessions, the broker earns points allowing him to search for other comps. While the startup is cute and idealistic, it’s hard to find brokers who provide CompStak with free information. 

CoStar dominates, lurks, and sues: Five years ago, CoStar filed a “John Doe” copyright infringement lawsuit against some unknown CompStak users, alleging that they had uploaded its proprietary data onto the platform. A federal judge forced CompStak to hand over the names of the users in question.

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