UK firm REalyse is set to scale its Big Data and analytics platform, having landed £3m of funding.
The Series A investment round was led by venture capital firms Anthemis Group and XTX Ventures. REalyse has previously raised funds from a range of institutional and private investors, including Roundhill Capital and Pi Labs.
Founded in 2016 by tech entrepreneurs Gavriel Merkado and Corey Cummins, REalyse uses data to streamline the property development process and help property professionals make informed development and investment decisions. Legal & General, Cushman & Wakefield, Quintain and Colliers International are current users of the software.
Gavriel Merkado, founder and CEO of REalyse, said: “Property has been crying out for the same transformation seen across insurance and financial services. And by applying cutting edge quantitative analytics technology, we plan to do the same for development and investment management.”
REalyse believes that on average, real estate professionals spend up to 40 hours per project or 13 days per month reviewing complex data, and claims to be able to reduce this by 90%.
The platform does this by analysing hundreds of datasets, including rents, yields, prices, demographics, property ownership, planning applications and economic information, from sources like the Office of National Statistics, Land Registry, HM Revenue & Customs and the Royal Mail. With this information, REalyse allows property development, investment and lending firms to determine where, when and what to build.
Gavriel continued: “We want to offer amplify the clarity and transparency that UK real estate is known for by making access to data easier and more intuitive.”
Iason Nikolakis, managing director at Anthemis Group, added: “Anthemis sees significant growth potential in REalyse. We are believers in the team’s strategy and are excited about the unique, data-driven product they are bringing to the real estate industry.”