Biproxi, an end-to-end commercial real estate transaction platform, has netted $10m in its seed funding round.
Greycroft led the round, with additional backers including Newmark Knight Frank, RPM Ventures, and the National Association of Realtors.
This capital injection comes alongside the launch of Biproxi’s new product Biproxi Off Market. The solution is an algorithmic-based data platform which gives instant property and valuation data on more than 32 million off-market commercial properties.
It is designed for brokers, buyers and tenants, giving them detailed property data, historical sales data, assessed property values, and financing history for properties valued at $25m and up.
The service combines with the CRE tool which includes the biproximate service, a product putting values on over 10 million properties in the US.
Biproxi aims to shorten the commercial real estate sales cycle by verifying listings, buyers, sellers and tenants. Users are given a detailed dashboard allowing them to easily find new listings, make offers and close deals.
Biproxi Founder & CEO Gordon Smith said, “Until now, accessing transaction history or the current market value of a commercial real estate property requires an expensive data subscription. Biproxi has simplified this process providing investors and agents tools to list, market, and transact faster with better information on one platform.”
Earlier in the month, Greycroft participated in the $15m Series B round of data analytics platform for measuring the consumer economy Earnest Research.
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