The company offers traditional commercial real estate project delivery with modern technology, automation, and data-driven proactive insights
Fremont, CA: Cloud-based intelligence platform company Northspyre raised USD 7.5 million in Series A funding round led by David Sacks’ Craft Ventures, with participation from Tamarisc Ventures. Northspyre's platform is used by real estate owners, developers, and project management firms. The company offers traditional commercial real estate project delivery with modern technology, automation, and data-driven proactive insights. Since its inception in 2017, Northspyre has expanded into most major US markets, facilitated more than USD 13 billion worth of capital projects, and served more than 35 customers.
“We are thrilled to partner with Craft Ventures and take Northspyre to the next level,” said William Sankey, Co-founder and CEO of Northspyre, and former NYC real estate developer. “Industry demand for sophisticated, modern technology has grown tremendously since our founding, with more and more real estate professionals understanding the importance of data-driven decision-making. By employing Northspyre’s tailor-made software, leading project teams are saving up to 30% of their time and between 2-8 percent in overall project costs. We're eager to reach more customers, enhance offerings for existing users, and continue transforming traditional real estate project delivery methods with automation, data analytics, and proactive insights."
Amidst the commercial real estate industries battles with COVID-19, Northspyre’s flexible, cloud-based technology has experienced its highest user engagement since its founding. A majority of real estate professionals rely on Northspyre to maintain continuity in project delivery and provide a critical, collaborative hub for teams now working remotely. The company is leading the cloud 2.0 revolution for owners, developers, project management firms, and internal real estate teams. The company's software is designed to empower real estate professionals to make proactive, data-driven decisions on development, capital and asset projects across various real estate project types, and provides a modern, sophisticated solution for teams currently relying on outmoded processes.
“Traditional real estate project execution and delivery is ripe for disruption,” said Jeff Fluhr, General Partner at Craft Ventures and former StubHub co-founder. "William and his team have found an attractive market segment with a real need for technological advancement and significant headroom for growth. Today, high-stakes commercial real estate projects often face big delays and budget overruns due to manual, inefficient workflows, lack of real-time access to critical data, and siloed information sharing. Northspyre’s intuitive, user-friendly platform can quickly replace current methods and fundamentally change how commercial real estate operates.”