Part networking platform, part deal management tool, RealConnex aims to connect real estate professionals, capital, investments and services. By pulling together a community of 65,000 active users, almost 6,000 registered capital sources, and 9,000 investment opportunities, the company is on track to facilitate more than $1B in deals in 2017.
Not only does RealConnex connect people, much like its name implies, but it also gives them tools for tracking deals with other users. The site’s verification and accreditation process lets community members rest assured that other platform users and deals are legitimate. CRM and dashboard tools keep deals organized and confidential. RealConnex also employs artificial intelligence to guide members on CRE best practices — perhaps one reason the company just attracted $3.5M in funding via a strategic investment from Silver Portal Capital.
The funding supplied by this boutique real estate investment and merchant bank is slated to help RealConnex grow into “the largest real estate professional network,” according to Jean-Louis Guinchard, senior managing principal of Silver Portal Capital.
RealConnex founder Roy Abrams sees value above and beyond the capital for the partnership. “As one of the real estate industry’s leading investment and merchant banking firms, SPS has deep expertise and resources to help us expand our user base and deal flow,” Abrams said. Silver Portal Capital will adopt RealConnex’s technology platform throughout its organization and channel partners to drive business growth.
Developers, architects and lenders have long found it challenging and labor-intensive to collaborate. By bringing those players together online on the same platform, RealConnex hopes to reduce transactional friction. If RealConnex is able to scale the way the company hopes, we might finder ourselves part of its real estate-focused social network. I just hope my username isn’t already taken.