Austin, TX-based RealMassive, a commercial real estate data provider, landed a Series A funding round of approximately $3 million as the company seeks to launch a subscription service in addition to its free commercial real estate listings offering. Since its founding two years ago, the company has received $8 million in venture funding.
As a startup, RealMassive aims bring transparency to the commercial real estate industry. They are focused on making old operational models obsolete by replacing inefficient spreadsheets and flyers with real-time digital listings. The company launched with local data in Austin, and then rolled out across Texas. To date, the company provides data to commercial real estate stakeholders in 33 markets across the U.S.
The company provides a powerful yet easy way to help commercial real estate professionals collaborate and streamline their marketing efforts while gaining critical insight into the performance of their space and buildings. Tenant reps gain access to accurate availability data through the intuitive tools they need to analyze spaces collaboratively with their customers. The company’s cloud-based marketing platform reduces costs and accelerates space identification and deal flow.
Data In Real-Time
Much of the commercial real estate industry today is “just amazingly backwards,” says Jason Vertrees, RealMassive chief technology officer. “Even multi-billion dollar companies don’t know how many square feet they’re managing. They have no insight into the true numbers and needs of very important businesses. We needed a cloud-based solution with the ability to update information in real time,” Vertrees says. “Google Cloud Platform has the best overall package.”
RealMassive relies heavily on Google App Engine, Google Cloud Storage, and Google Compute Engine—each a Google Cloud Platform solution. The company uses other solutions as well, including Google Maps Engine, and Google Maps API. The company uses the Platinum support package for comprehensive, personal, and customized support, with direct access to the Technical Account Management team. They also rely on Google Apps for Business for communication and collaboration. “And it’s a no-brainer to go with Google, when you’re actually performing searches on the same platform that powers Google search,” adds Joshua McClure, RealMassive founder and CEO.
Once the company is up and running in a new market, RealMassive’s attention shifts to data acquisition. “We have our data sources, and in the morning we can ingest the data into the system,” Vertrees says. “By the afternoon, we can launch a new market.”
To date, the company is delivering marketing and real-time market insight for 4.6 billion square feet of commercial real estate properties.
RealMassive has partnered with numerous commercial real estate companies, including Aquila Commercial, Avison Young, Barshop & Oles, Brandywine, CBRE, Colliers International, Cousins Properties, Endeavor Real Estate Group, HPI Real Estate and Investments, JLL, Lincoln Property Company, Live Oak-Gottesman, McAllister & Associates, Moore & Associates, Oxford/Cushman & Wakefield, Parkway Properties, Peloton, Riverside Resources, Stream Realty, The Kucera Companies, The Retail Connection and TIG Real Estate.
In October 2014, Dick Anderson of HPI Real Estate Services and Investments, a full service firm in Texas, said, “RealMassive has changed the way we consume and manage data. We’ve streamlined and strengthened our marketing efforts while greatly extending the reach of our listings. Their open platform enables us to distribute our availability to the market in real-time, which is a game-changer.”