Cherre, a real estate data and analytics platform, has secured $16m in a funding round led by technology-focused investor Intel Capital.
Other contributions to the round came from Navitas Capital, Carthona Capital, Zigg Capital and Dreamit Ventures. The deal also included a debt relationship with Silicon Valley Bank.
This investment round brings the company’s total equity funding to $25m.
Powered by AI technology, banks, insurance companies, investors and large enterprises can collect augment, resolve and analyse datasets in real-time from hundreds of thousands of public, private and internal sources.
This service enables customers to evaluate investment and underwriting opportunities more accurately. Its database offers actionable insights on more than 177 million properties, 84 million companies, 315,000 datasets and billions of connected datapoints.
Its platform has a selection of use cases including automated P&C insurance underwriting, desk inspections, pre-fill for lending products, and investment and underwriting decision making.
Intel Capital vice president and senior managing director Trina Van Pelt said, “The global real estate industry is undergoing a transformation, catalysed 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.â€
The data platform previously secured $9m in its seed round back in 2018. The capital was supplied by Carthona Capital, iLOOKABOUT, Dreamit Ventures and Red Swan Ventures.
Copyright © 2020 FinTech Global
