One of the interesting things about real estate data is that is isn’t only important for the real estate industry. Understanding the history, values and measurements of our buildings is of fundamental importance to ancillary industries like construction and large users groups like big corporations. Recently, Richard Sarkis, Co-founder and CEO of property data company Reonomy told me, “you will find anyone from a roofer to a mom-and-pop developer to a Fortune 50 company using our product.” This has required Reonomy to bring on some highly experienced new hires in order to perfect their product/market(s) fit.
Reonomy has been growing fast. By both a headcount and a revenue perspective Sarkis said that his company grew between three and four times where they were a year before. Now they have recruited a number of people to help them build out their service for their next phase of growth. Sarkis explained, “We already have complete coverage of the U.S. so we are turning to new products. We are also starting to work on other markets like Canada and Western Europe.”
To help oversee the growth they’ve hired Michael Manne, former Vice President of Sales at Namely, as their Chief Revenue Officer. “Michael understands the entire spectrum of our client list and is uniquely suited to help us create the right products for each group,” Sarkis told me. To do this, there will be a lot of work that needs to be done in helping unlock potential in all of the property data that his company has aggregated.
That is why they hired Bhaskar Maddala as Vice President of Engineering, and Maureen Teyssier as Director of Data Engineering and Data Science. “With past experience at Shutterstock, Tumblr, and Amazon Bhaskar understands how to bring products to live,” Sarkis said. “Maureen is a computational astrophysicist so she puts us all to shame. I had to look up what a computational astrophysicist even is,” he joked.
Both Maureen and Bhaskar came from a company called Enigma. The company was started with the idea of “what would Google look like if it was designed for searching databases at scale?” and powers decisions in banking compliance, insurance underwriting, asset management and life sciences supply chain.
Much of what they are building now will likely be required to integrate into the larger enterprise software landscape. Last June, Reonomy raised $30 million in financing from German software giant SAP, among others. At the time Sarkis said, “We’ve already had some conversations with folks at SAP, to say ‘Hey, how can this be helpful to your broader SAP network?’” His new engineering team having experience creating products that use outside data along with internal client sets will help him create that connection to the property industry and beyond.