Round led by RET Ventures includes strategic investment from Pretium amid period of rapid growth; Capital to accelerate development of machine learning-powered product portfolio for real estate owners and operators
NEW YORK, March 28, 2023 /PRNewswire/ -- Markerr, an analytics platform powering critical decision-making for institutional owners and operators of real estate, announced today that it closed a $6.6 million Series B. The round was led by RET Ventures and includes strategic investment from Pretium, a specialized investment firm with more than $50 billion in assets under management.
Markerr continued its rapid growth during 2022, with annualized recurring revenue (ARR) growing 95% year over year and net retention surpassing 140%. Client and revenue growth continues to benefit from an expanding product portfolio through the launch of several new products during 2022, including:
- RealRent, an advanced rent forecast tool that leverages machine learning and vast data networks to deliver transparent and accurate rent estimates;
- RealRank, an industry-leading application that allows acquisition and asset management teams to quickly access Markerr's vast array of economic, market, and property-level data offerings;
- Population Nowcast, a real-time nowcast of population and migration trends across the US, providing ZIP Code level insights into one of the key drivers of real estate demand;
- New demand and supply indicators covering Crime and New Construction; and
- Expanded Property data with detailed Listings data.
Markerr's timely and accurate analytics are derived from a highly differentiated data network, providing clients with a competitive edge while accelerating critical business decision-making. Markerr analytics and derived insights allow clients to operate with greater confidence and speed. Its platform leverages cutting-edge data aggregation and machine learning technology to ingest massive datasets at scale and subsequently cleanse, transform, and connect them using MarkerrID, a unique identifier for connecting disparate datasets at the asset level.
"We are a long-tenured Markerr client, and the team's scalable and flexible data and analytics platform supports our ability to make well-informed investment decisions swiftly and with a high degree of confidence," said Lauren Cipicchio, Senior Managing Director and Head of Central Quantitative Strategies at Pretium. "We are pleased to partner with Brian and the Markerr team and believe that our investment and our single-family rental expertise will help advance Markerr's existing offerings while also enabling growth in their business with institutional real estate investors."
"When we first invested in Markerr two years ago, we recognized its potential to deliver unique data intelligence to real estate investors, and in the ensuing two years, the company's product suite and client base have grown dramatically," said Christopher Yip, partner at RET Ventures. "In today's tumultuous market, real estate professionals are looking for any possible competitive advantage, and it is telling that many of our strategic investors — some of the country's largest multifamily and SFR owners — have adopted Markerr to improve their investment decisions. Markerr is ideally positioned for continued growth, and we're excited to work alongside Brian, Pretium, and Markerr's stakeholders to help scale the company."
"The real estate industry is experiencing tremendous change, and first-movers like Pretium will have a significant competitive advantage by leveraging Markerr's differentiated data and technology," said Brian Lichtenberger, CEO and Founder of Markerr. "This investment serves as another validation of our vision for the future of the industry, and our success is entirely attributable to the efforts of our talented team. I am excited to continue partnering with RET Ventures, Pretium, and our other investors in pursuit of Markerr's mission."
Markerr's derived analytics and insights are delivered via dashboards, complete datasets, and research reports. To learn more or request a demo, visit markerr.com.
About Markerr
Markerr is setting a new standard for real estate decision-making. Leveraging real-time data and machine learning to derive unique property and market analytics, our products enable clients to gain a competitive advantage and make more confident and efficient decisions. Our clients are the world's largest institutional owners and operators of real estate.
Founded in NYC in 2021, Markerr is backed by leading investors including RET Ventures, Pretium, and Bridge Investment Group. For more information, please visit www.markerr.com.
About RET Ventures
A leading real estate technology venture capital firm, RET Ventures elevates real estate innovation by investing in cutting-edge technologies out of its core venture funds and a Housing Impact Fund. RET works in partnership with its base of more than 40 Strategic Investors who own and manage over $600 billion of real estate assets, with a particular focus on multifamily and single-family rental real estate. In these asset classes, the group includes some of the largest REITs and private real estate owners, operators and developers, who together control approximately 2.5 million rental units.
Through its deep expertise and network, RET has created a unique real estate innovation ecosystem that delivers significant value to the companies it backs, providing them with access to thought leaders, development partners and ongoing strategic guidance. For more information, please visit www.ret.vc
About Pretium
Pretium is a specialized investment firm focused on U.S. residential real estate, residential credit, and corporate credit. Pretium was founded in 2012 to capitalize on investment and lending opportunities arising as a result of structural changes, disruptions, and inefficiencies within the economy. Pretium has built an integrated analytical and operational ecosystem within the U.S. housing, residential credit, and corporate credit markets, and believes that its insight and experience within these markets create a strategic advantage over other investment managers. Pretium's platform has more than $50 billion of assets, comprising real estate investments across 30 markets in the U.S., and employs more than 4,000 people across 30 offices, including its New York headquarters, Dubai, London, Seoul and Sydney. Please visit www.pretium.com for additional information.
Contacts
Markerr & RET Ventures
Shlomo Morgulis
Antenna | Spaces
[email protected]
Pretium
Jon Keehner / Kate Thompson / Lyle Weston
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
[email protected]
SOURCE Markerr
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