REscour Raises $1.5M to Leverage Its Data Analytics Platform for a New View on CRE Insights
Social+Capital and Spider Capital Partners Join Existing Investors to Create Facebook-like Feed for Commercial Real Estate
Atlanta, GA (PRUnderground) December 3rd, 2015
REscour has raised $1.5 million dollars in their latest investment round. The Social+Capital Partnership, led by Chamath Palihapitiya an early employee and former vice president of user growth at Facebook, joined Spider Capital Partners, Mosley Ventures, and LAUNCH in the investment. REscour is currently using that capital to expand sales and marketing efforts and to create Insights by REscour, a market intelligence feed for commercial real estate professionals. Insights officially launches at the Bisnow Multifamily Annual Conference on December 3rd in Washington D.C.
“We’ve had a lot of success selling massive data aggregation and advanced analytics to large firms like JLL, ARA, UDR, and Pinnacle but we’re finding there’s also a need for individuals or small teams within these organizations to simply keep track of what’s happening around specific properties. REscour’s Insights provides personalized, targeted insights for everybody.” said CEO and Co-Founder Jake Edens.
“I’m blown away by the progress Rescour has made in such a short period of time,” said Jason Calacanis of LAUNCH. “Their technology is doing an amazing job of taking billions of data points and creating actionable insights.”
Insights starts at $99 per month and gives multifamily professionals an opportunity to move past sifting through their inbox or saving news articles to their computer for possible future use. REscour customers can now add specific properties to “follow”, similar to adding friends on Facebook, which populates the user’s personal feed. Users also receive a daily digest on followed properties, essentially putting their market intelligence on autopilot. Insights is mobile-friendly for quick and easy access to accommodate the CRE professional constantly on the go. The personalized feed provides information on everything happening around those followed areas and allows CRE professionals to quickly learn:
- When multifamily properties are on the market or closing soon.
- What’s happening in the market (proposed developments, jobs announcements, etc.) around specific properties via geo-located CRE news from local business journals, Globe St, Bisnow, popular CRE blogs, and hundreds of other publications.
- When sales transactions occur for over 7 million commercial properties in 166 different markets.
Doug Burt, Multifamily Broker at Tarantino Properties, stated “For the past year REscour has offered data and analytics, but the addition of qualitative data has elevated the way we make decisions. REscour Insights lets me cut through the noise to focus on the information pertinent to my current deals. My team now spends less time doing market research, which allows us to increase our deal pipeline.”
About The Social+Capital Partnership:
The Social+Capital Partnership is a stage agnostic, billion dollar fund focused on backing exceptional entrepreneurs in the areas of healthcare, education, financial services and internet technologies. The Partnership’s investors are comprised of some of the world’s most renowned philanthropists, technologists and capitalists. The Social+Capital Partnership is based in Palo Alto, CA. For more information, visit socialcapital.com.
About Spider Capital Partners:
Spider Capital Partners is a San Francisco-based seed-stage venture capital firm. The firm partners with visionary founders who are building enterprise cloud companies that are transforming business productivity. The investment team is comprised of successful technology investors and startup operators from leading enterprise cloud companies. For more information, visit spidercp.com.
About Mosley Ventures:
Mosley Ventures is a venture capital fund investing in early stage technology startups in Atlanta and the Southeast. We primarily invest in the following sectors – security software, mobility and wireless, big data and healthcare IT. Sig Mosley is the Managing Partner of Mosley Ventures. Since 1990, Sig has been the most prolific southeast investor in 120 startups with 82 liquidity events. Sig is currently the record holder of the largest southeast venture deal with the $5.7 billion acquisition of Tradex by Ariba. Mosley Ventures is a “for entrepreneur” fund as we invest in people. We believe in enabling founders to build their visions into successful companies.
About Launch Fund:
An angel fund started by Jason Calacanis, the Launch Fund closed at $10m and is going to invest in 100 startups over the next three years. The Launch Fund will try and find another couple of Uber’s and have a lot of fun founding awesome startups. Web: http://launch.co/, Twitter: @theLAUNCHfund
REscour offers market intelligence for multifamily professionals to uncover fresh opportunities, make better decisions, and close more deals in just a few clicks. The Atlanta based company is enabling investors and brokers to efficiently access a wealth of information by zooming into any market on their map to see property information, location based news, and more. For more information on REscour visit the company’s website at: www.rescour.com.