Tech startups have infiltrated most industries, providing efficiency-adding solutions to many businesses. However, the commercial real estate brokerage business has not benefited from such innovation – until now.
Hightower, a one-year-old company, produced a software platform for commercial real estate brokers. Cofounder and CEO Brandon Weber, a computer scientist turned commercial broker, saw a need for such software in the industry.
Hightower provides an easy way for brokers to track deals and manage documents to specific properties. Their payment structure is per property, so there is a low barrier for entry to the software. While they intend to produce revenue from users, obviously, another viable option for them is big data. Data companies salivate over the kind of data that will be passing through Hightower’s software frequently.
The software saw considerable success since launching. Hightower has commitments from several commercial real estate heavy weights including CBRE, Cushman & Wakefield, Jones Lang LaSalle and Colliers. This is just a sample of its first 40 clients. The company raised more than $8 million in investor capital thus far, with every reasonable expectation that it will have successful growth. Who knows; maybe Front Street Commercial Real Estate Group will be the next client!