Chicago-based real estate software platform Realync has wrapped up a $1.1 million round of funding to fuel an expansion. The company, which has developed a platform for live virtual property tours and open houses, will establish a new headquarters on the city’s northeast side and add more than 40 jobs by 2020. Chief Executive Officer Matt Weirich says the funding will allow further development of the platform that he says has become necessary "as Millennial and Gen Z consumers become the majority of renters in the multifamily industry."
The seed funding round was led by Meridian Street Capital, with VistionTech Partners, M25 Group and Charmides Capital also participating. Meridian Street Capital General Partner Scott Law says the leasing industry is "ripe for disruption," creating a "very compelling investment opportunity."
Realync boasts users in 47 states and 30 countries. The company says its platform aims to connect leasing teams and prospective tenants "using an immersive, real-time experience." The technology allows potential renters to take live virtual tours or see cloud-based pre-recorded videos. Realync leaders says they have worked with leasing teams from companies including Milhaus, LivCor, Alliance and Waterton.
The Indiana Economic Development Corp. has offered Realync $650,000 in tax credits based on the job creation plans. In addition to the Indianapolis location, the company will continue to operate from and expand its office in Chicago.cross the country. The firm is based in Indianapolis, Indiana. Learn more at www.meridianstreetcapital.com.