Ratio.City, a Toronto-based urban analytics platform, has raised $1 million in a seed-stage financing.
U.S. early-stage venture capital firm 2048 Ventures led the round. Also investing were Riocan Real Estate Investment Trust, Tercot Developments, Rockport Capital, Smycorp Capital and Guloien Capital.
Founded in 2017 by CEO Monika Jaroszonek and CTO Erin Morrow, Ratio.City provides cloud-based mapping and analysis tools to help developers and planners access data, evaluate options and make better decisions about real estate opportunities.
The round’s proceeds will be used to grow Ratio.City’s sales team and enhance the platform by bringing on more data points and geographical locations.
Photo: Monika Jaroszonek, co-founder and CEO of Ratio.City.
Ratio.City raises $1M seed round for cloud-based real estate analytics platform
TORONTO – July 23, 2019 – Ratio.City, a platform that addresses complex urban planning problems and helps businesses make data-driven decisions faster than by traditional means, is announcing that it has raised $1 million in seed financing to fuel the expansion of its cloud based urban analytics tool.
The funding was led by 2048 Ventures, with participation from Riocan Real Estate Investment Trust, Tercot Developments, Rockport Capital, Smycorp Capital, and Guloien Capital.
Alex Iskold of 2048 Ventures says, “Modern cities are rapidly growing, and are generating enormous amounts of data. Ratio.City is building a platform and API that enables real estate developers, city planners, governments and businesses to search, plan and make decisions using public and private data sets. We are thrilled to back Monika and Erin, who have a massive vision and strong founder market fit in this exciting space.”
The funding will go toward building out the sales team, as well as increasing the robustness of the tool by bringing on more data points and geographical locations. Expanding to other markets will make the tool more appealing to larger real estate developers and commercial brokers, who are looking for sites outside the City of Toronto.
The demand for reliable, accurate, and readily available urban data has never been greater – by the year 2050, 70% of the world’s population will live in cities. At the same time there is an ongoing explosion of data from mobile phones and Internet of Things devices. Ratio.City’s mission is to gather this data and provide the analysis that will unlock the potential of cities around the world. The platform uses extensive data sets and AI to provide accurate and rapid insights for city builders in various verticals: real-estate, transportation, and civil infrastructure.
The PropTech startup was founded by CEO Monika Jaroszonek and CTO Erin Morrow. Monika has deep industry experience in designing and building millions of square feet of mixed use developments while at Toronto-based architecture firms. Erin is an internationally certified Urban Planner who developed crowd simulation software for a global engineering firm. Both Monika and Erin are familiar with the pain points faced by developers and planners: finding urban data is difficult and time consuming. They founded Ratio.City to help real estate industry professionals use technology to build better cities.
“Since launching our tools last summer, we’ve had great momentum and traction with our early customer base – this financing round is the next step in our evolution of developing digital tools for city building.”
Monika Jaroszonek, CEO and Co-founder
“Cities are the most complicated things humans have ever devised. We are extremely pleased to work with these investors who share our passion for using technology to understand cities and help them reach their fullest potential”
Erin Morrow, CTO and Co-founder
RATIO.CITY is an Urban Analytics platform for building great cities. It brings together a broad spectrum of real estate data sources and provide analysis tools for Real Estate Industry professionals.
The platform’s online mapping and analysis tools strategically unlock potential urban development locations. Instantly available site analysis and 3D scenario modelling tools help Real Estate Industry Professionals access information, evaluate options and make better decisions; while simultaneously optimizing staff and consultant time, reducing investment risk and saving on land carrying costs through the development process.
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