The investment will enable Radix to scale its platform development to meet rapidly increasing market demand and support its exponential customer growth
SCOTTSDALE, Ariz., April 19, 2022 /PRNewswire-PRWeb/ -- Today, Radix announced an investment of $11 million from Level Equity. Radix has created a shared data ecosystem that presently includes 7 million+ units across 270+ markets. This ecosystem serves as the foundation for software that helps multifamily users drive top-line revenue growth by equipping teams with real-time data and visualization tools which produce reliable and insightful market trends. Additionally, the way Radix collects and displays the data is unique and sets them apart from its competitors. Radix is currently utilized by over 200 of the top multifamily owners and operators including Greystar, Fairfield, Bozzuto, and Lincoln Property Company.
Blerim Zeqiri, CEO and Founder of Radix, emphasized the funding will enable the company to grow even more rapidly and invest in new platforms to solve complex industry challenges. He added, "We at Radix are on a mission to change how the industry makes decisions by providing the best insights into market trends fueled by better data. With 7 million active units now on the Radix platform, our ecosystem is one of the largest in the industry, which will allow us to build the best predictive and prescriptive platforms to further help our clients make better, faster decisions in times of rapid change. Of the many VCs we talked to during our fundraising, Level Equity stood apart for its talented and dedicated team and previous experience in helping guide and grow companies to full scale, especially data and SaaS companies. We could not be more excited or proud to partner with George and the entire Level Equity team."
Radix has grown rapidly adding 2 million units in the past year to surpass 7 million+ units across 270+ markets contributing to its shared data ecosystem. By displaying that amount of data in real-time, Radix's platform is quickly becoming the go-to solution for clients looking to adapt as the market changes day to day rather than reacting quarterly or annually based on historical trends. Communities utilizing Radix, on average, have 1.09% higher leased percentage and 0.54% higher occupancy rates than non-subscriber communities in their comp sets. In addition, subscriber communities have monthly net effective rents (NER) that are $23.86 higher than non-subscriber comps. For the average 250-unit community, that translates into $5,965 more NER each month.
The investment round was led by Level Equity, a New York and San Francisco based private investment firm. Level has extensive experience in supporting the growth of software and data companies serving the real estate industry including Pure PM and Vacasa. In late 2020, Level invested directly in the multifamily software space via a growth round in Leonardo247, a provider of remote monitoring technology for onsite multifamily operations.
"We recognize that multifamily real estate owners and managers are operating in an increasingly competitive environment and the need for current and accurate competitive positioning information is vital," said George McCulloch, partner, Level Equity. "Radix's ecosystem enables data sharing by collecting property data directly from the source and displaying it in real-time, empowering users to proactively make better-informed decisions. We are thrilled to back Blerim and the team in this next phase of growth."
For more information on how you can take advantage of Radix's solutions, visit https://www.radix.com.
About Radix:
Founded in 2015 and headquartered in Scottsdale, AZ, Radix is a SaaS company born out of necessity and frustration with the lack of options available to get better, more accurate multifamily data in real-time. With a strong conviction to build a platform tailored for the multifamily industry and with a vision to change the industry by providing better data and insights, Radix has become the leader in market comp and performance benchmarking.
About Level Equity:
Level Equity is a private investment firm focused on providing capital to rapidly growing software and technology-enabled businesses. Level provides long-term capital across all transaction types in support of continued growth. The firm has raised $3.0 billion in committed capital and has made over ninety investments since its inception. For more information, visit http://www.levelequity.com.
Media Contact
Rachel Davidson, Radix, 1 602-892-4788, [email protected]
SOURCE Radix
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