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Louisville-based TermScout closed a $635,000 seed round from undisclosed investors this week to push forward its young software products.
The lean six-person company, which was founded in the fall, is led by CEO Chris Silvestri, who started up Big Data software company ClearOak in 2000, and COO/CFO Mark Frank, who has previously founded three healthcare startups.
TermScout aggregates data from various sources to provide “accurate and actionable” information on tenants via three main offerings: one for commercial real estate brokers and owners to find new customers, one for retailers to understand competitors’ leases and one for service providers to find out when companies are moving. Focusing on alerting its customers to key changes within organizations (like public filings, executive changes or relocations) that could affect a real estate decision, TermScout aims to increase customers’ revenue.
Joining other Colorado real estate startups like PivotDesk, an online marketplace for office space, and BiggerPockets, a real estate networking and info platform, TermScout is gearing up to disrupt the trillion dollar industry with new tech.
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