» Press Releases Edition | By Author | November 8, 2022 2:44 PM ET
Raccord, a data platform that analyzes portfolios of assets, has raised $1.5 million in seed funding, led by the founders of JBG Smith and Agya Ventures, and joined by investors Scott Landis, Alan Forman and Jen Forster. The new capital will enable New York-based Raccord to launch into new markets, as well as improve the platform's functionality and add further expertise to its team.
Accessing and analyzing key property data can be the difference between failure and success when it comes to real estate investment and asset management, but gathering quality data is time-consuming, frustrating and complicated. Founder Bonnie Murray created Raccord having experienced first-hand the cumbersome and lengthy process that data management in the real estate industry requires.
Raccord helps to distill complex, disparate data into clear, powerful and essential metrics, to equip decision-makers with the intelligence needed to analyze assets and investment opportunities, the smart way.
New funding will allow Raccord to continue to build its team and capabilities. Recent new hires include Josh Cook as Director of Engineering, Greg Cucino as part-time Chief Financial Officer, and Francesca Carollo as Customer Success Associate.
Capital will also be used to help the company expand into new markets, including Europe, as well as launch a desktop version of the platform - evolving from the current mobile-first offer.
Bonnie Murray, CEO and Founder of Raccord, comments:
"We are passionate about helping the property market transition to become much more data fluid. We know just how precious maximizing time and efficiency is for investors and asset managers and our platform is designed to ensure that collating, handling and viewing critical information is both straightforward and powerful.
New capital will enable us to push forward with our technology development, helping us to provide the best possible service to our customers, as well as continue with our market expansion plans. We're grateful to all of our investors and partners and are hugely excited for what lies ahead."