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Real estate data management and analytics startup Cherre raises $50M
Real estate data management and analytics startup Cherre Inc. today said it has raised $50 million in new funding to expand its platform offering, introduce and integrate additional partner data sets and applications, and launch its customer advisory board.
The Series B round was led by Trustbridge Partners and included Glilot Capital Partners, Intel Capital, Navitas Capital, Carthona Capital and an expanded relationship with Silicon Valley Bank.
Founded in 2016, Cherre pitches itself as being the leader in real estate data and insight. Designed to connect decision makers with accurate property and marketing information, Cherre’s platform is aimed at enabling better investment and underwriting decisions.
By connecting all disparate real estate data into a single source, what the company describes as a single source of truth, Cherre’s cloud-based platform allows companies to explore all their connected data for immediate and actionable insight. In providing relevant data, Cherre claims to offer clients savings of millions of dollars in manual data collection and analytics costs.
Cherre experienced strong growth in 2020, signing global enterprise customers across technology, asset management, commercial brokerage and property and casualty insurance. The company also added almost 40 new data connection partners, including important vendors in the real estate industry, and increased annual recurring revenue three times over the previous year off an undisclosed base.
Cherre co-founder and Chief Executive Aldi Salmonson told Geektime that the real estate field includes many challenges when it comes to collecting a lot of data and presenting it effectively to those involved in the field. “There is a need to model information as a broad and rich knowledge graph and we have built the first graph of its kind in the field,” Salmonson said. “The system allows you to connect to existing databases without understanding how they ‘talk’ to each other.”
Including the new funding, Cherre has raised $75 million to date, according to Crunchbase.
Image: Cherre
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