CompStak, a commercial real estate transaction data and analytics platform, has announced $50 million in Series C funding. Investment Funds managed by Morgan Stanley Expansion Capital led the investment round with participation from Mitsui Fudosan’s CVC Fund and Crow Holdings, and several existing investors, including Canaan Partners & IA Capital. The investment brings CompStak’s total funding since its launch in 2012 to $78 million.
The Series C funding will be used to accelerate the expansion of CompStak’s lease and sale comp data into new asset classes and will bring growth in data sets, products, and markets.
“We’re incredibly excited to partner with Pete Chung and the Morgan Stanley Expansion Capital team,” said CompStak CEO Michael Mandel. “Pete has a deep understanding of the CRE tech space, having invested in ‘PropTech’ twenty years before the term was invented. The Morgan Stanley team’s ability to thoughtfully analyze markets and guide strategy conversations has already been evident in our short time working together, and Pete and his team truly understand what it takes to build and scale high-performance organizations.”
“CompStak’s success in assembling, cleansing, and exposing insights from data from commercial leases, sales and properties, facilitates both quicker and improved business decisions for the company’s customers, including some of the most sophisticated participants from all segments of the commercial real estate market,” said Pete Chung, Head of Morgan Stanley Expansion Capital. “The CompStak team has developed a compelling SaaS business founded on one of the most valuable information sources we’ve seen in PropTech, by patiently building both the depth and breadth of their solution to solve the antiquated exchange of CRE information. We look forward to partnering and participating in CompStak’s continued success.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.