Cherre, the New York-based real estate data and analytics platform, has raised $16 million in its Series A growth funding, bringing the company’s total capital raised to date to $25 million.
Led by Intel Capital, other participants in the investment round include Navitas Capital, Carthona Capital, Zigg Capital, Dreamit Ventures, and a new growth debt relationship with Silicon Valley Bank.
Cherre’s said its artificial intelligence (AI) platform has empowered large enterprises, insurance companies, banks, and investors with a platform to instantly collect, augment, resolve, and analyze datasets in real-time from hundreds of thousands of public, private, and internal sources.
By providing a unique “single source of truth,” Cherre empowers customers to evaluate opportunities and trends faster and more accurately while saving millions of dollars in manual data collection and analytics costs.
Cherre’s Software as a service (SaaS) platform is now widely recognized as having the industry’s most comprehensive knowledge graph with granular.
To meet customers’ most demanding use cases, the platform supports data delivery through a high-performance, low-latency API, as well as through a transactional database.
Intel Capital invests in innovative startups targeting artificial intelligence, autonomous vehicles, datacenter and cloud, 5G, next-generation computers, and a wide range of other disruptive technologies.
Since 1991, Intel Capital has invested US$12.6 billion in more than 1,560 companies worldwide, and 677 portfolio companies have gone public or participated in a merger.
Intel Capital curates thousands of business development introductions each year between its portfolio companies and the Global 2000.
“This massive industry migration towards fully-integrated data systems is just starting, and we’re incredibly proud to be leading the charge. We look forward to continuing work with our most demanding clients on their mission-critical data needs,” said Cherre CEO L.D. Salmanson.
Last year saw incredible growth for the entire market, and the global real estate industry is undergoing a transformation, catalyzed by massive data flows and the application of AI.
Intel Capital sees Cherre as a critical infrastructure to accelerate the future of the industry.
“Our customer diligence repeatedly indicated Cherre’s AI-enabled platform was a foundational pillar – a data system of record for large enterprises across the real estate segment. We’re excited to help accelerate Cherre’s global growth trajectory,” said Trina Van Pelt, Vice President and Senior Managing Director of Intel Capital. #