Real estate data management platform Cherre has scored a $50m growth investment round led by Trustbridge Partners.
Other commitments to the round came from Glilot Capital Partners and former Goldman Sachs Vice chairman Mark Schwartz. Previous Cherre backers Intel Capital, Navitas Capital, Carthona Capital and Silicon Valley Bank also participated in the investment.
New York-based Cherre plans to use the funds to expand its platform offerings, integrate new partner data sets and applications, launch a customer advisory board and build out its team.
The PropTech platform connects disparate real estate data into a single location, enabling companies to easily explore their connected data for actionable insights. Its platform
During 2020, the company increased its annul recurring revenue by three-times and added nearly 40 new data connection partners to its platform. Other milestones include the acquisition of new global enterprise customers across technology, asset management, commercial brokerage and P&C insurance.
Trustbridge Partners co-head of the US investment team Yoon Chang said, “The technological infrastructure and high-quality data underpinning Cherre’s platform are unparalleled. The resulting value proposition to both customers in providing a single source of truth for real estate data as well as to data partners in driving distribution is incredibly compelling. We look forward to a long-term partnership with Cherre.”
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