New York City-based ResiModel, a platform for analyzing multifamily transactions, has raised a total of $4 million after a recent fundraising of an undisclosed amount. The company’s investors include Symmetrical Ventures. Also, ResiModel has added Rob Wrzosek to its advisory board.
Correction: This brief was corrected to reflect ResiModel has raised a total of $4 million after a recent fundraising for an undisclosed amount.
NEW YORK – ResiModel, the leading platform for capturing, processing and analyzing multifamily transactions, today announced that it has added a prominent new investor to the company, Symmetrical Ventures, the technology venture capital firm helmed by former BlackRock Vice Chairman and CFO Paul Audet.
Prior to founding Symmetrical Ventures, Audet oversaw the US Mutual Funds, Global Real Estate and Cash Management businesses at BlackRock. By investing in ResiModel, Audet becomes the latest in a line of strategic investors that includes former executives from JPMorgan, Goldman Sachs and Deutsche Bank Real Estate.
“Mr. Audet has long been one of the real estate industry’s leading financial minds, so Symmetrical Ventures’ investment serves as an affirmation of the invaluable nature of ResiModel’s service offerings,” said Elliot Vermes, CEO of ResiModel. “In partnership with Audet and Symmetrical Venutres, we will further develop our industry-leading platform, and continue to provide greatly needed services to some of the country’s largest real estate brokers, lenders and investors.”
Concurrently, ResiModel announced the addition of real estate veteran Rob Wrzosek to the firm’s advisory board. The former president of Hunt Mortgage Group, one of the leading real estate mortgage originators in the country, Wrzosek will serve ResiModel in an advisory role, providing the company with access to one of the leading minds in the real estate capital markets, as it continues to refine its platform to fully meet the needs of current and prospective users.
“ResiModel prides itself on an ability to provide ever-improving services to an industry-leading client base, and the addition of Mr. Wrzosek to our advisory board will help us continue to achieve that goal,” Vermes said. “As an active advisory board member, he will confer with our leadership regularly, providing us with invaluable insight from one of real estate’s leading minds.”
With the entrance of Symmetrical Ventures and several other new investors, the multifamily platform has now raised approximately $4 million from strategic backers interested in getting a foothold in the company before it secures its Series A round of financing.
Using sophisticated data capture and visualization tools, ResiModel provides users with the means to aggregate, mine and analyze the rent roll and operating data they receive to better understand the properties, win more deals and improve the accuracy of deal pricing.
On December 1st, ResiModel announced that its “rent roll capture” tool now automatically converts both Yardi and OneSite rent roll files into a usable format in less than a minute, bringing incredible time savings to a process that previously took users several hours.
Since launching, ResiModel has quickly amassed a customer base comprised of deal teams at many of the industry’s top brokerage firms, including CBRE, Jones Lang LaSalle, ARA, Colliers, Marcus & Millichap, Moran & Co. and Cushman & Wakefield, along with a number of premier multifamily investors, such as Alliance Residential Company, Carmel Partners and The Milestone Group. To date, 6,000 multifamily transactions have been entered into the platform.
Launched in 2013, ResiModel was created to revolutionize the way deal information is shared and analyzed for the roughly $250 billion of multifamily transactions completed in the U.S. each year. As the leading platform for evaluating multifamily transactions, ResiModel helps users process, analyze and store all the rent roll and operating data that crosses their desks. Our parent company, ResiModel, Inc., is financially backed by a number of prominent venture capital firms and industry leaders in commercial real estate. For more information, visit ResiModel.com.