Gridics, a real estate data and software development company, announced Thursday that it has raised a $1.1 million round of seed funding. The round was led by Dune Road Capital and included John Dyett, managing director of Salem Partners, Robert Kall, CEO and co-founder of Cien.ai, and Miami real estate developer Avra Jain.
Gridics, short for Grid Analytics, was founded in 2015. From applications on its platform, users can visualize real estate data in order to make smarter investment and development decisions while streamlining inefficient processes in the real estate world, the company said. For example, the Zonar.City application helps bridge the gap between the private sector development community of architects, developers and attorneys by automating development feasibility analysis and streamlining the development plan approval process.
“By creating a solution that can digitize and automate any zoning code, the Gridics team has created a way to streamline an antiqued process," said Peter Richards, managing partner of Dune Road Capital.
The company, which has raised over $2 million to date, will use the new funding to strengthen its product and drive adoption of its Zonar.City application.
“Our new automated compliance module allows cities and developers to quickly check development plans against site-specific zoning requirements. Cities that integrate their code with Zonar.city will streamline their zoning approval processes resulting in faster approvals, improved transparency and significant reductions to backlogs,” said Gridics CEO Jason Doyle, in announcing the funding.
Gridics is also developing a Market Intelligence application, which allows real estate professionals to conduct hyper-local market analysis. More than 1,000 members of the Miami Association of Realtors have joined Gridics since February, the company said.
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