The startup is using the UK in Seattle as a springboard to expand into Europe and beyond.
Data analytics startup Blackstone, CBRE and Newmark among its clients are considering entering the UK after completing a £12.5m Series A funding round.
Led by Fulcrum Equity Partners, the funding round allows NavigatorCRE, one of the fastest growing startups in Seattle, is targeting a commercial launch in the UK in the fourth quarter of the year.
The company said its goal is for the UK to become an “essential” part of the business by 2023 and to serve as a launch pad in continental Europe.
NavigatorCRE is a SaaS platform that integrates, analyzes, audits and visualizes all the property data a company needs, whether it is an asset manager, occupier, developer or agent, in one system.
One of its main selling points is that it holds a US patent for “ingesting and integrating” structured data (typical real estate data from ERP or subscription systems) and unstructured data such as foot traffic or weather.
said Kevin Shtoffman, Chief Operating Officer at NavigatorCRE plastic: “Essentially, what we do is complement a technological system, not compete with it.”
Rather than having to “copy and replace” existing technology, the platform brings everything together in one place. It also means that a user who is not familiar with a particular piece of software can still access and make use of that data.
Why the UK?
Shoffmann said the move to the UK partly reflects where the company’s existing clients are expanding. Another reason is the benefit of being in a location in a time zone suitable for European business (Seattle is eight hours behind London) that also speaks English.
“If we can use the UK as a basis for decision-making across Europe, the Middle East and Africa, we will be very excited about this outcome,” he added.
As much as it is in the US, Shtofman said, UK real estate is experiencing as much innovation.
However, he added: “In the United States there is a deeper base of well-capitalized owners and operators who are willing to adopt some technology, at least in [de prueba de concepto], in front of some European owner operators.
“Hopefully we can help change that.”
Taylor Odegaard, CEO and founder of NavigatorCRE, said: “We want to become the world’s leading platform for improving data, visualization and analysis in commercial real estate. For us, the UK has always felt like the natural next step in that journey, as well as an ideal springboard in Europe and beyond.
“The power of data in decision making is just as important in the UK, which means that the opportunities for NavigatorCRE here are enormous.”
In addition to geographic expansion, NavigatorCRE is also using its new capital in product development and integration.
The company is working on a mobile-first design, expanding its API, dubbed Pac Man because “you can basically eat data from anywhere,” Odegard said, with new features and the “productivity” of its platform by differentiating services. individual for different sectors. Help users find the specific products they need for their asset class.
Odegard said: “If I go into a field and look around and there are no poles or lines, it’s just a field. I can play any sport I want. We want to draw lines and put up goalposts so you know you’re playing football.”
Another ongoing focus is expanding the platform’s integration with other companies. This could mean that the user can click on a group and go directly to the Swivel space layout interface, or view a virtual tour of Matterport.
“For us, Navigator has become the hub where we hope all commercial real estate users start their day,” said Shoffmann.
“We’ve seen a need across industries for centralized data solutions, and Navigator has become that in the CRE space,” said Frank X. Dalton, Partner at Fulcrum. “They have revolutionized the way ACC operations approach data, paving the way for more informed and insightful decisions.” “
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