Rsquare raises $72M in Series C funding
South Korea-based Rsquare recently raised $72 million in its Series C round of funding from STIC Investments. The proptech startup plans to use the funds raised to advance its AI-based proptech platform, upscale its commercial building transaction and fulfillment centers brokerage service, and acquire talent.
Founded in 2009, Rsquare began its office brokerage service in 2015 to aid startups find office space. The platform now also serves small and medium enterprises (SMEs) and larger corporations. The company further launched subsidiary Rsquare Design in 2016, to provide office interior design services.
As per CEO JohnWoo Lee, Rsquare’s ‘key differentiator’ is its commercial building data, which the startup has gathered since its launch. The company has apparently collated the data of over 120,000 commercial buildings across 50 locations in South Korea. Rsquare has had over 10,000 office brokerage transactions with over 21,000 clients in its home base of South Korea.
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