Obie, a cloud-based commercial real estate platform, raised $2.8M in venture capital from investors including Y Combinator, MetaProp, FundersClub, Liquid 2, Soma Capital, JD Ross (Opendoor), Matt MacInnis (Inkling) and Justin Alanis (Rentlytics). The company plans to use the funds to support continued growth, strengthen the feature set on the platform and build out the staff and infrastructure required to meet the demands of a growing user base.
Additionally, the startup publicly released its free cloud-based insurance and portfolio management platform for small-to-medium size commercial real estate funds and managers.
The Obie platform gives owners a place to consolidate all of the information about their assets and, at the same time, invite and collaborate with any of the key stakeholders like property managers, leasing brokers or LPs who need access to that data on a daily basis. Obie is free to customers because it uses the underlying data to streamline the sale of products their customers are required to buy anyway, starting with commercial property insurance.
“The silent majority of commercial real estate owners and funds in the U.S. have largely been ignored by advances in technology,” said Ryan Letzeiser, CEO of Obie, who founded the company with his brother, serial entrepreneur Aaron Letzeiser. “I spent countless hours in my previous life on time-consuming tasks that could easily be automated and consolidated in one place.”