REscour Raises $1.3 Million in Seed Round to Automate Commercial Real Estate Research
REscour recently announced closing a $1.3 million round of seed investment funding. The commercial real estate data visualization and intelligence platform will use the capital from the funding to expand its engineering team and increase brand awareness. The round of funding was led by investors that included TechSquare Labs, AngelList, Chip Perry, the former CEO of AutoTrader.com.
Based on the concept of providing more complete and accurate information, REscour assists commercial real estate professionals, including lenders, brokers, analysts, developers, and investors with the opportunity to make better informed decisions. By merging a number of different data sources into one convenient, easy-to-use platform, REscour is able to provide enhanced market insights. Clients are also able utilize the platform for managing their own data.
Putting Seed Investment to Use for CRE Insights
With the new round of seed investing, REscour also hopes to expand its data pipeline. The company has already developed a proprietary data pipelines that is able to retrieve, classify, and geo-locate a veritable treasure trove of data points. This makes it possible for commercial real estate professionals to identify relevant property data much more quickly than was possible in the past. Such relevant property information and data might include demographics, rent comparables, sales comps, and recent news. Making the pipeline even more valuable is the fact that data can be drilled down even further based on the specific investment portfolio needs of clients. Consequently, REscour is able to generate extremely targeted market insights.
What REscour Has to Offer
According to REscour, the platform provides automated market research. With more and more technology coming online each and every day, there is a lot taking place in the market. Even so, until REscour, commercial real estate professionals had few tools available to help them in managing all of that news and data. For instance, deals and listings could quickly go on and off the market. Companies could change locations. REscour is based on the premise of making it easier to manage all of that data in one convenient location, thus saving commercial real estate professionals time and energy in research.
One way that REscour allows users to do this is by filtering all relevant news based on category, date, and location. REscour also provides demographic heat maps that allow users to leverage demographics to gain enhanced understanding regarding household and population characteristics of new and existing markets. CRE professionals can also be proactive and discover what is on the market by filtering through listings based on broker, location, construction year, and number of units. As a result, firms are able to make better decisions in a faster manner, paving the way to achieve more successful outcomes for commercial real estate transactions.
Founded by Jake Edens based on his own background in the commercial real estate industry, REscour has already lined up an impressive cadre of customers that includes leading brokerages. The firm is headquartered in Atlanta, Georgia.