Megalytics developed an automated platform that can analyze a variety of data sources for decision-makers in all major sectors of commercial real estate and during all deal phases: prospecting, underwriting, lease transactions, and property or portfolio evaluations.

Retail developers, for example, typically evaluate potential sites by checking the income levels of the families that lived in the surrounding areas, along with traffic counts of nearby roads. But with Megalytics, developers can get an analysis based on billions of GPS signals that show exactly how, where and when potential customers travel. “It's a whole different concept on trade areas,” says Salvatore. “Drawing a radius doesn't make sense anymore.”

And with so much disruption in the world of retail, access to this kind of granular detail is needed, Salvatore adds. A holistic picture of traffic patterns can, for example, help retailers pinpoint where new outlets should go, and avoid cannibalizing existing locations.

Salvatore “is targeting a huge market that has seen little in the way of technological innovation,” says said WLV general partner Jeff Carter. “Megalytics' clients say they get information much faster, coupled with superior analysis, enabling them to protect their NOI and manage their businesses more effectively and efficiently.”

The company is not currently looking for more funding, Salvatore says, but that could change some time this year. “We are going to execute our plan first.”

CHICAGO—Megalytics, Inc., a big data and analytics company focused on commercial real estate risk, has recently landed its first venture capital investment. It closed a $1 million funding round, led by Chicago-based West Loop Ventures on May 25, 2017.

Chief executive office Donna Salvatore founded Megalytics in 2014, and it already helps dozens of clients harness and understand the vast amount of data now available on potential transactions or trends. And this first funding round will allow company to publicize what it can do.

“We plan to use the money to build out our sales infrastructure,” Salvatore tells GlobeSt.com. Megalytics, located on the North Side of Chicago, just opened a New York office, and is looking for a West Coast location as well.

The company now has about 25 employees, and its growth illustrates how Chicago has nurtured its vibrant tech sector. As reported in GlobeSt.com, in 2015 the firm completed a three-month boot camp at ElmSpring, an accelerator for tech firms that focus on real estate and part of 1871 in Chicago's Merchandise Mart.

Megalytics developed an automated platform that can analyze a variety of data sources for decision-makers in all major sectors of commercial real estate and during all deal phases: prospecting, underwriting, lease transactions, and property or portfolio evaluations.

Retail developers, for example, typically evaluate potential sites by checking the income levels of the families that lived in the surrounding areas, along with traffic counts of nearby roads. But with Megalytics, developers can get an analysis based on billions of GPS signals that show exactly how, where and when potential customers travel. “It's a whole different concept on trade areas,” says Salvatore. “Drawing a radius doesn't make sense anymore.”

And with so much disruption in the world of retail, access to this kind of granular detail is needed, Salvatore adds. A holistic picture of traffic patterns can, for example, help retailers pinpoint where new outlets should go, and avoid cannibalizing existing locations.

Salvatore “is targeting a huge market that has seen little in the way of technological innovation,” says said WLV general partner Jeff Carter. “Megalytics' clients say they get information much faster, coupled with superior analysis, enabling them to protect their NOI and manage their businesses more effectively and efficiently.”

The company is not currently looking for more funding, Salvatore says, but that could change some time this year. “We are going to execute our plan first.”