Real Estate Execs Help CompStak Raise $4.4 Million


CompStak Inc., a startup technology firm that uses crowdsourcing to compile detailed data on office rents and other lease terms, has completed its third round of funding, raising $4.4 million from about one dozen investors.

Led by venture capital firm Canaan Partners the funding round also included executives in the brokerage, appraisal, real estate investment businesses.  “We used this round in particular to bring in strategic people who would be useful in broadening our reach,” said Michael Mandel, CompStak’s chief executive.

The round increased CompStak’s funding to $10 million. The firm collects hard-to-get data on specific leases through a crowdsourcing system in which brokers and others report data in exchange for access to other CompStak information.

The new investors include top executives of Rubenstein Partners, a Philadelphia-based real estate private equity fund with close to $1 billion under management. Jeremiah Kane, the head of Rubenstein’s New York office, said that he and others at the firm decided to invest partly because they use CompStak’s data and are impressed with its quality. “You need good information to make good decisions,” Mr. Kane said.

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