When BuildFax CEO Holly Tachovsky and her commercial broker began looking for a new Austin HQ office, she only had one request.
“It cannot be downtown,” said Tachovsky.
As a resident in the Hyde Park area, she had hoped to find a location nearby. But when her broker James requested she take a look at the historic Heierman building on E. 5th and Brazos streets, she obliged.
Within 15 minutes, Tachovsky said she knew the office was the one — and could even picture where members of her team would sit.
Now her local team of 10 has a new and unique place to call home, as BuildFax plans to expand their Austin team.
The company launched in 2008 in Austin and also maintains a team based out of Ashville, N.C., which itself has about 30 people. For the past eight years, BuildFax has been gathering over 23 billion data points on property histories and conditions from commercial and residential buildings across the country.
Their data provides lenders, insurance companies, appraisers and real estate agents with factual insights to get a look into how well a building was taken care. This includes reports on when an electrical system was installed, who installed it, when a roof was replaced and other structural safety concerns.
Tachovsky said they used the BuildFax system on their own new HQ location, which revealed an expired permit. She and her husband have also used it when investing in properties throughout Austin.
“I love what we do,” said Tachovsky. “We have the ability to change the way property insurance is underwritten, the way appraisals are done, the way equity traders gather data.”
Tachovsky said they are the only third-party company out there that collects data like this. The company just wrapped up 18 months of doubling their customer base, and Tachovsky said BuildFax is on pace to double it again over the next 18.
Tachovsky attributed the recent growth to two factors.
“We have grown to have a reputation as a trusted source,” said Tachovsky. “Most of our customers are very large institutions. It takes a while for those to trust a data company.”
In addition, she said industry trends have moved in BuildFax’s favor as insurance companies have shifted toward a more data-driven approach to underwriting.
With the recent boom of clients, the company has worked hard to keep its culture of employee engagement, accountability and support.
“That kind of growth ... with soul is our intention for the next year,” said Tachovsky.
In anticipation of another huge year, the company will expand their team with 10 new positions including sales, market development, customer engagement and success, and operations roles.
Image via BuildFax.
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