RealMassive, an Austin-based startup that provides data to real estate professionals, announced today it had closed a $8 million Series A funding round with a new $3 million investment from RHS Investments. The deal values the company at $20 million.
In addition to the funding, the company announced changes in the makeup of its executive team. Co-founder Craig Hancock will become the Chief Executive Officer and co-founder Joshua McClure, will take the role of President. Hank Seale, who runs RHS Investments has also been named RealMassive's Chairman of the Board. The management changes are geared toward refocusing the company on monetization in the Austin market. While current focus is in Austin, long-term plans see expansion of coverage across the country.
"We are thrilled to announce the completion of our Series A, and we welcome Hank as Chairman of the Board," Hancock said in a statement. "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."
RealMassive has grown rapidly. Founded in 2013, the company now has 29 employees and has launched in 33 major markets, delivering real-time market insight for over 4 billion square feet of commercial real estate. While this data is primarily in office listings, there has been organic interest in industrial and retail listings as well.
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