NEW YORK, Oct. 23, 2020 /PRNewswire-PRWeb/ -- Today, CREtech named Northspyre, a cloud-based intelligence platform for real estate development teams and their collaborators, the winner of its seventh annual Real Estate Tech Award in the "Capital Markets: Data-Artificial Intelligence Solution" category. Northspyre was carefully selected by an elite panel of judges, including leading venture capitalists, angel and corporate investors, and thought leaders in the commercial real estate technology industry.
"This award is further evidence of the impact that Northspyre has had on project delivery, giving commercial property developers and their collaborators access to the data and insights that allow them to pivot quickly in response to planned and unplanned changes that always arise during the development process," said William Sankey, former New York City developer and co-founder and CEO of Northspyre. "Northspyre brings to CRE what has long existed in the finance and tech industries: automation, data analytics and artificial intelligence. For developers, Northspyre applies these advanced technologies to help teams achieve easier, more predictable outcomes to ensure projects are delivered on budget and on time."
This recognition comes on the heels of a very strong year for Northspyre as it offsets some of the challenges faced by commercial real estate project teams that were brought on by the pandemic. In 2020, Northspyre raised $7.5 million in Series A funding led by David Sacks' Craft Ventures, hit a milestone of facilitating more than $15 billion in customer projects, experienced its highest-ever user engagement to date and grew its team to more than 30 employees to meet increasing customer demand.
The global pandemic evoked a reliance on digital collaboration for real estate project teams, especially with new safety requirements on job sites and a flexible work environment that required real-time access to critical project data. Northspyre continues to work with its clients to improve confidence in their decision-making, maintain institutional knowledge that would otherwise be lost due to staff departures and turnover, and ensure development projects continue moving forward as planned.
Founded in 2017, Northspyre continues its mission to upend the status quo and empower CRE professionals to be more proactive and make more informed, data-driven decisions to achieve easier, more predictable outcomes on individual projects and across portfolios. Bringing predictability to commercial real estate project delivery means increased efficiency, increased productivity and increased returns.
SOURCE Northspyre
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