ATX Seed Ventures led a $1 million seed round for IdealSpot, a commercial real estate analysis startup based in Austin, Texas. Several angel investors also participated in the round.
AUSTIN, Texas–(BUSINESS WIRE)–IdealSpot, a web-based commercial real estate mapping and analysis solution, announced today the launch of their initial suite. The company has raised $1,000,000 from several angel investors and venture capital led by ATX Seed Ventures to fuel its initial launch and market-expansion across the United States.
With IdealSpot’s site selection suite, retailers can begin research for a new location using free demographics or any of IdealSpot’s proprietary offerings such as:
Customer Location Targeting: Retailers tap into multiple data sources to discover where their customer interest lies based on search, social, and purchasing patterns.
Traffic Density Overlays: Retailers find the average amount of weekly traffic within a user-defined area.
Average Revenue Score: Retailers identify the “hotspots” where their business will bring in the most revenue or “deadspots” – where their business is likely to fail with a personalized heatmap.
Sean Greenberg, a participant in the seed round and CEO of Pluckers, shared, “As the CEO of an expanding restaurant chain, I have tried almost every site-selection and retail analytics tool on the market. I found that the data was bad, not real-time or not relevant, their models were outdated, or the needed investment for the service wasn’t worth the value delivered.
“IdealSpot is changing that by focusing on real-time data and providing me with immediate answers through their easy-to-use mapping and analysis platform.”
Chris Shonk, managing partner of ATX Seed Ventures shared, “Machine Learning, data science, and advanced analytics applied to the real estate market is a tremendous opportunity. Turning data into actionable information for both tenants and property owners is not a need – it’s a must in this day and age.
“The founders are successful serial entrepreneurs. Their ability to strategically think and execute tactically is a rare pleasure. The customer feedback and size of this untapped market are truly compelling, and we are excited to be the lead investor beside this talented team.”
Retailers, restaurants, retail services, and franchises can instantly create their personalized map and begin their analysis of current locations and competitors’ locations at IdealSpot.com for free.
Depending on their growth strategy, retailers can benefit from affordable monthly subscriptions to further analyze their desired data.
Founded in 2014, IdealSpot Inc, headquartered in Austin, TX, is a technology company specializing in software for the commercial real estate and retail industries. The founders have 40 years of combined experience in commercial real estate, retail, software, and machine learning. We are data junkies — we spend our days searching, collating, parsing, analyzing, and packaging data from multiple sources, and we are passionate about making that data beautiful and actionable so that our customers are empowered to make better decisions.