RealSage – a leading provider of data intelligence and AI solutions for the multifamily real estate industry – announced the closing of a $1.6 million USD (2.1 million CAD) funding round. This funding round was led by Golden Section and Plug and Play Ventures with participation from REACH (an early-stage arm of Second Century Ventures) and prominent super angels and real estate family offices from the Toronto and California ecosystems.
RealSage has been transforming the future of rental management by eliminating the manual reporting around spreadsheets and meetings that often lead to human error and hinders growth in the industry. And this platform uses machine learning algorithms and predictive AI models to identify hidden patterns and navigate tricky market conditions, which results in more profitable portfolios for asset managers. Portfolio managers using RealSage have added $400K in annual economic value, experienced up to 42% better returns, and saved over $100K in payroll reallocation.
RealSage is already being used by over 100 buildings in North America and is being adopted by prominent players in the industry, including players like GreySpring Apartments, Drewlo Holdings, and Oxford Properties. And the platform was designed to foster a collaborative workflow in all departments with real-time dashboards that provide actionable insights and predictions to stay ahead of the competition.
The company raised $1 million in 2021 in early-stage funding to build the product, and this new round of funding will help RealSage continue its mission of revolutionizing the industry. And RealSage is poised to continue its rapid growth and bring its innovative solutions to more asset owners and managers across North America.
KEY QUOTE:
“We are thrilled to have the support of such great investors and to bring the power of data intelligence and AI to the multifamily real estate industry. With this funding, we will continue to grow our team and expand across North America, helping asset managers make more data-driven decisions and optimize their portfolios.”
— Arunabh Dastidar, CEO and co-founder of RealSage
