Based out of Austin, Texas, AnthemIQ is a real estate technology startup that created a commercial real estate transaction management platform for real estate brokers and for clients. Founded just last year, the business was created to streamline the real estate transaction process by making everything more accessible digitally.
The AnthemIQ platform allows clients to view and virtually explore their commercial real estate prospects, which the business claims will help reduce unnecessary site tours by over 75%. Additionally, all real estate communication can be completed through the messaging thread in the platform. The startup company states that the platform helps real estate brokers double their deal volume, therefore increasing overall earnings.
AnthemIQ claims it already has thousands of real estate professionals across the United States (US) and Canada using its platform since launching in February of this year; however it does not disclose any specific figures.
$10 Million Series A
In a press release, the business announced it raised $10 million in a Series A financing round led by Staubach Capital. Other undisclosed industry professionals and investors also participated in this round.
Jeff Staubach, a founding partner at Staubach Capital, said in a statement, “I spent nearly twenty years as a tenant rep broker with clients from small family offices to dozens of fortune 500 companies...I’ve never seen a product that is able to transform the way business is done both for the broker as well as a corporate real estate team. Staubach Capital is excited to lead this investment round and strategically participate in the company’s continued growth.”
Co-founder and Executive Chairman of the company, Kenny Tomlin, added that the new funding would be used to accelerate business growth and product expansion to continue AnthemIQ’s goal of transforming the commercial real estate industry. However, the company did not disclose specific details on its new product offerings.
Commercial Real Estate Industry
The COVID-19 pandemic ushered in a new era of work-life balance as people were forced to work from their homes. As a result of this change, the commercial real estate industry took a hit.
According to a report by the National Association of Realtors (NAR), acquisitions for large commercial real estate properties — properties or portfolios of at least $2.5 million — fell 28% year-over-year (YOY) in the first quarter of 2021 compared to last year. Additionally, 70% of NAR commercial members who responded to the 2021 Q1 survey stated that companies are downsizing their office spaces due to the increased number of people working from home.
Real Estate Technology Startup Companies
AnthemIQ is just one of many startup companies looking to innovate an industry that has been relatively the same for quite some time.
In February, Startup Savant reported that LeaseLock, an AI company that allows lessors to streamline renting by eliminating the security deposit, raised $52 million. In addition, it was also reported in early March that Compass, an online real estate brokerage, filed for an initial public offering (IPO).
About the Author
McKenzie Carpenter is a graduate of Central Michigan University with a B.A.A. in Integrative Public Relations and French. McKenzie has previously worked for small businesses and nonprofit organizations.