Markerr, an analytics platform powering critical decision-making for institutional owners and operators of real estate, has 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 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, the company said. 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.
“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.”
