- New York-based Cherre real estate data and analytics platform announced it has raised $16 million in growth funding
New York-based Cherre real estate data and analytics platform announced it has raised $16 million in growth funding. Including this round of funding, Cherre has raised a total of $25 million.
Intel Capital led the funding round. Navitas Capital, Carthona Capital, Zigg Capital, Dreamit Ventures, and Silicon Valley Bank (new growth debt relationship) also participated in the round.
Cherre’s artificial intelligence platform empowers large enterprises, insurance companies, banks, and investors with a platform to instantly collect, augment, resolve, and analyze datasets in real-time from hundreds of thousands of public, private, and internal sources. And this enables customers to evaluate investment and underwriting opportunities more accurately and efficiently than ever before.
And Cherre’s SaaS platform is now widely recognized as having the industry’s most comprehensive knowledge graph with granular and actionable information on over 177 million properties, 84 million companies, 315,000 datasets, and billions of connected data points — enriched with macroeconomic, geospatial, and demographically pertinent datasets. In order to meet customers’ most demanding use cases, the platform supports data delivery through a high-performance, low-latency API, and a transactional database.
“Last year was marked by incredible growth for the entire market,” said Cherre co-founder L.D. Salmanson. “This massive industry migration towards fully-integrated data systems is just starting, and we’re incredibly proud to be leading the charge. We look forward to continue working with our most demanding clients on their mission-critical data needs.”
Cherre — which commercially launched in August 2018 — serves some of the largest investors, banks, and insurance companies in the industry. And its leadership team of repeat founders, industry veterans, and data scientists is pioneering end-to-end real estate data integration for predictive analytics and automated workflows. Plus the company transforms mission-critical activities across the real estate industry, including automated P&C insurance underwriting, desk inspections and pre-fill for multiple lending products, and AI decision support systems that enable better investment and underwriting decisions for investors and underwriters.
“The global real estate industry is undergoing a transformation, catalyzed by massive data flows and the application of artificial intelligence. Despite its substantial impact on the global economy, this sector is still in its infancy when it comes to data-centric investing and underwriting decisions. We see Cherre as critical infrastructure to accelerate the future of this industry,” added Trina Van Pelt, Vice President and Senior Managing Director of Intel Capital. “Our customer diligence repeatedly indicated Cherre’s AI-enabled platform was a foundational pillar – a data system of record for large enterprises across the real estate segment. We’re excited to help accelerate Cherre’s global growth trajectory.”