Chicago Startup buildout Simplifies Commercial Real Estate, Closes $8M Series A
B2b startups are hot in Chicago (as are EdTech startups). Last month we reported on Machinio a startup out of Chicago that’s changed the way contractors and developers source, buy and sell used industrial equipment. Today, we’re talking buildout.
buildout was founded by Vishu Ramanathan and Jason Tillery, two software developers that created a platform that simplifies selling and leasing commercial real estate. BuiltinChicago reports that Ramantahan and Tillery came up with the idea for buildout because they were looking for an area that had a lot of opportunity. That’s when they started investigating commercial real estate.
“We were looking for a market with a lot of opportunity, and that was what led us to commercial real estate,” Ramanathan told Builtinchicago.com .“We went to a brokerage firm in Chicago, and we could see how much work went into his marketing. So we offered to do that work for him for $100 a month.” The duo started handling all of the broker’s marketing needs manually until they created a platform that could automate the processes online.
They knew that real estate could be a tough market. There is a reluctance to adopt new software platforms. Ramanathan told builtinchicago that comes from not having good options. buildout has started to build a great following in the CRE market.
Now buildout is helping thousands of brokers in all 50 states update websites, marketing materials, proposals, third party listings, and emails from one single location at the same time. buildout also helps agents create custom maps that they can use to show prospective buyers and leasers exactly where a property is.
The company started in 2013 and immediately raised $300,000 in seed funding. They also grew their company from three employees to over 30. They plan on adding more staff with the latest investment.