With Backing from Real Estate Heavyweights and VC firms, ResiModel Reaches $3.5 Million in Funding
Company Positioned to Revolutionize Multifamily Investment
NEW YORK (April 14, 2015) – ResiModel, the leading platform for aggregating, standardizing and analyzing financial data for multifamily transactions, today announced that it has closed on its most recent round of funding. Provided by a group of investors comprising several renowned real estate executives and venture capital firms, this latest round of financing brings the total amount raised by the company to approximately $3.5 million.
Investors in this round represent some of the biggest names in both real estate and technology, including Axiometrics, the leader in apartment market and student housing research and analysis; Kevin Quinn, former Global Co-head of Technology Investment Banking at Goldman Sachs; Kurt Roeloffs, former Chief Investment Officer at Deutsche Bank Real Estate; and Bob White, Founder and President of Real Capital Analytics. The round also includes funding from two venture capital firms—Osage Venture Partners and Leading Edge Ventures—that were eager to get involved with ResiModel early on.
“It’s very gratifying to see industry leaders and venture capitalists affirm ResiModel’s importance to the multifamily industry,” said Elliot Vermes, CEO of ResiModel. “This financing will allow us to manage the rapid growth we have been experiencing, and take ResiModel to the next level.”
ResiModel combines sophisticated data visualization and analytics tools with a superior underwriting model that enables deal parties to gain deeper insight into potential investment opportunities and market comps. The platform allows users to aggregate and mine disparate data from rent rolls and operating statements in a consistent, instantly usable format that can be easily shared from seller to broker, broker to buyer, and buyer to lender.
Owing to the growing importance of sophisticated analytics in the multifamily investment sector, ResiModel’s new investors join prominent existing investors such as Ryan Slack, former Chief Executive Officer at PropertyShark; Camber Creek, an early-stage venture capital fund and strategic real estate technology investor; and the Chief Executive Officer of a leading multifamily REIT.
“The real estate world has begun adopting technology solutions at a rapid pace, and ResiModel is poised to capitalize on this growing trend,” said Kurt Roeloffs. “The platform solves an existing industry problem, and allows investment professionals to aggregate their deals for use in future transactions. We are sure to see more leading investors, brokers, and lenders turn to ResiModel for assistance in harnessing their institutional intelligence.”
ResiModel’s active customer base comprises deal teams at many of the industry’s top brokerage firms, including ARA Newmark, CBRE, Colliers, Cushman & Wakefield, Jones Lang LaSalle, Marcus and Millichap, Moran and Stream Realty, along with a number of premier multifamily investors, such as Alliance Residential Company and Carmel Partners. To date, users have analyzed more than 2,000 multifamily transactions through the ResiModel platform.
Launched in 2013, ResiModel is the leading platform for aggregating, standardizing and analyzing financial data for multifamily transactions. ResiModel was created to revolutionize how deal information is shared and analyzed, enabling brokers, buyers and lenders to capitalize on accumulated firm-wide knowledge in order to win more business and make better investment decisions. For more information, visit ResiModel.com.
# # #