Andrew Hertzberg
Deerfield-based Truss, a commercial real estate (CRE) tech platform has raised $7.7 million to increase platform support, expand into new markets and increase AI efficiency, Tech Crunch reports.
Videos by Rare
RELATED: Get ready Apple fans – the iPhone 8 will be here in September
Truss was only founded last year but is already making waves in the CRE scene. The idea of Truss is to take what Redfin and Zillow have done for residential property and apply the same principles to CRE under 10,000 square feet.
Tom Smith, one of the co-founders explained to Tech Crunch why the focus on smaller spaces. “Office spaces under 10,000 SF represents the underserved, high transaction volume side of the commercial real estate market where the Truss platform can immediately differentiate itself and add value to small and medium businesses.”
They currently only provide services for Chicago and Dallas but plan to expand into Houston, Austin and San Antonio soon.
As for their AI? Meet Vera. “She’s always looking out for you, whether it’s telling you about great new spaces or advising you on the fair market price for the space you’re considering.”
This is the third start-up that Andrew Bokor has been a part of, a roster that includes Trustwave which was eventually acquired for $770 million.
Despite all the success, Bokor sees no reason to leave Chicago anytime soon. “I think Chicago is a great story. There are a lot of people who have had successes and they’ve stayed in the community to then reinvest back into the community, and we really wanted Truss to be a nice Chicago story.”
RELATED: Can Houston become the next Silicon Valley?
This new funding (led by Navitas Capital) lays on the $1.5 million foundation laid out previously by Chicago Ventures, Hyde Park Ventures and New Coast Ventures.
