PRODA, which has software to automate capture and processing of rent roll data, recently announced the completion of an $8 million Series-A fundraising round. The money will go to scaling up the company.
Leading the round was existing investor ING Ventures. New investors included JLL Spark, Blackstone Innovations Investments, and Concrete VC. The company believes that having such heavy commercial real estate hitters backing it will help establish its credibility and expand its reach. PRODA claims to be in 16 countries currently
Rent roll data is critical for valuation, finance, business planning, income streams analysis, and operational control. PRODA describes its product as a "cloud-based SaaS solution that captures, standardizes, validates, analyses and exchanges rent roll data." Lenders, investors, asset managers, owners, and operators all regularly use rent roll data.
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