Reonomy is Mapping the Commercial Real Estate Genome
Charlie Oshman had been rattling about the New York City commercial real estate tech space for a while, working on a variety of ideas, according to Brad Svrluga co-founder of Primary Venture Partners, an early stage venture capital fund. “I had always been impressed with Charlie and his knowledge of the marketplace,” Svrluga said. “At the time, though, it was clear to both of us that he hadn’t quite yet found the right product or market opportunity.”
Serendipitously, another associate of Svrluga’s, Richard Sarkis, was considering leaving his job as a consultant at McKinsey & Company to pursue new opportunities, but he was unsure of what he wanted to do. Svrluga suggested that Sarkis meet Oshman. “I had told him I was going to introduce him to this brilliant young entrepreneur who is close to hitting on something, but just needs a bit more help.”
Sarkis and Oshman sat down for lunch at Le Pain Quotidien, and several hours later, as diners came and went, Reonomy was born. Four months later, in March 2013, Svrluga’s fund co-led a $1.15 million seed financing round. Since that time, Reonomy has raised another $16.7 million, including $3.7 million in a Series A round in March 2014 and $13 million in a Series B in January 2015, making it one of the best funded CREtech startups.