Last week, RealMassive announced the close of its Series A round with a large investment from RHS Investments.
To date, RealMassive has raised $8 million in capital from RHS Investments with participation from Hurt Family Investments, Capital Factory and commercial real estate professionals from leading firms such as HPI Real Estate Services, Aquila Commercial, Avison Young and InSite Realty. RHS is run by seasoned entrepreneur Hank Seale, who currently serves as Chairman of the Board for Q2 Holdings, Inc.QTWO, +0.24%
In recognition of Seale’s key investor role and increased commitment to RealMassive, he has also been named Chairman of the Board. Company co-founders, Joshua McClure and Craig Hancock, have assumed additional responsibilities as well. Mr. Hancock assumes the role of chief executive officer and Mr. McClure serves as President. Key management changes were made to focus on monetization in Austin, Texas and to aggressively fuel the company’s transformation of the commercial real estate industry. For the next few months Seale and Hancock will be heavily focused on monetizing the Austin market. McClure will continue to lead the company’s vision, product and marketing efforts to ensure it delivers world-class data, marketing and technology solutions to CRE professionals.
“We are thrilled to announce the completion of our Series A, and we welcome Hank as Chairman of the Board,” said Hancock. “Hank’s public company experience provides RealMassive with exceptional senior leadership as we scale data-driven solutions to the commercial real estate industry. The Austin market reached data-maturity first, leading the nation as the earliest adopter of our premium products and services.”
“The commercial real estate industry has long been forced to depend on stale, inaccurate data and closed systems,” said Seale. “RealMassive is driving an industry-wide shift toward the kind of open, real-time data exchange that is already available to other industries. I am excited to continue to work with the company as they grow the business and accelerate the industry’s shift toward a more efficient and cost-effective mode of operation.”
“The commercial real estate community in Austin was the first to eagerly embrace RealMassive, and it will be the first to realize the benefits of the company’s premium products and services,” said Brett Hurt, founder of Bazaarvoice, Coremetrics and Hurt Family Investments, which is an investor in RealMassive. “This is an exciting time for the company and I look forward to seeing their continued success and growth.”
Commercial Real Estate insiders are equally optimistic about the news.
“I could not be more bullish about the additional funding and changes at RealMassive,” said CRE blogger Duke Long, Broker/Owner of The Duke Long Agency. “It’s time for the industry to get what it needs: high-quality CRE data and analytics that are actionable from both a sales and marketing perspective. RealMassive’s innovative toolset and collaboration platform drives a level of transparency and communication not seen in commercial real estate.”
Since launching in Austin in 2013, RealMassive has grown from 2 to 29 employees, launched 33 major markets in less than 18 months, now delivers marketing and real-time market insight for 4.6 billion square feet of commercial real estate properties, and partnered with many of the nation’s leading commercial real estate companies, including Aquila Commercial, Avison Young, Barshop & Oles, Brandywine, CBRE, Colliers International, Cousins Properties, Endeavor Real Estate Group, HPI Real Estate and Investments, JLL, Lincoln Property Company, Live Oak-Gottesman, McAllister & Associates, Moore & Associates, Oxford | Cushman & Wakefield, Parkway Properties, Peloton, Riverside Resources, Stream Realty, The Kucera Companies, The Retail Connection and TIG Real Estate.