May 14, 2019
New York-based LightBox acquired Real Capital Markets (RCM), a global marketplace for commercial real estate; and Digital Map Products (DMP), a location intelligence and mapping platform. Terms of the transactions were not disclosed.
RCM has executed more than 65,000 assignments with total consideration in excess of $2.3 trillion. The company says roughly 50% of all U.S. commercial assets sold, over $10 million, are brought to market using RCM’s online marketplace annually.
LightBox’s Eric Frank says, “We believe with the right intelligence, workflow software, industry data and analytics, the real estate decision-making process can be exponentially improved. We’re partnering with our clients to connect key segments of the ecosystem – banks, brokers, environmental firms, land developers, builders, appraisers, buyers and more – to the right real estate technology, tools, information and to each other.”
LightBox was formed in 2018 when technology investment firms Silver Lake and Battery Ventures acquired EDR, a provider of environmental due diligence information.
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