November 11 - 2021
November 11, 2021, New York, NY—CompStak, the leader in commercial real estate transaction data and analytics, today announced $50 million in Series C funding. Investment Funds managed by Morgan Stanley Expansion Capital led the investment round with participation from Mitsui Fudosan’s CVC Fund and Crow Holdings, and several existing investors, including Canaan Partners & IA Capital. The investment brings CompStak’s total funding since its launch in 2012 to $78 million.
This investment follows a tremendous year of growth for CompStak, reflecting strong resilience despite the COVID-19 pandemic. During the pandemic, and throughout its recovery, the world’s largest real estate investors, lenders, asset managers, corporate occupiers, and advisors have relied on CompStak’s granular and reliable data to make key real estate decisions. From long-standing clients like Tishman Speyer, Vornado, Alliance Bernstein, and Wells Fargo, to more recent additions like Google, Partners Group, PwC, and Stag Industrial, CompStak has established itself as a trusted partner to the CRE industry. The Series C funding will be used to accelerate the expansion of CompStak’s industry leading lease and sale comp data into new asset classes and will bring growth in data sets, products, and markets. With its Series C funding, CompStak members and clients will soon see new product launches for CompStak’s Exchange and Enterprise platforms, along with a meaningful expansion to the Analytics Suite.
"We're incredibly excited to partner with Pete Chung and the Morgan Stanley Expansion Capital team,” said CompStak CEO Michael Mandel. "Pete has a deep understanding of the CRE tech space, having invested in ‘PropTech’ twenty years before the term was invented. The Morgan Stanley team’s ability to thoughtfully analyze markets and guide strategy conversations has already been evident in our short time working together, and Pete and his team truly understand what it takes to build and scale high-performance organizations.”
With a focus on scale and continuing to position the company as the clear leader in commercial real estate data, CompStak will expand its team across the board, and grow its presence in its existing offices in New York, Los Angeles, Chicago, Atlanta, and Belgrade, Serbia. CompStak’s expansion plans include growth of its industry-leading crowdsourced data acquisition model into new asset classes, a broadened customer and member base, and partnerships with the world’s largest commercial real estate service firms.
“CompStak’s success in assembling, cleansing, and exposing insights from data from commercial leases, sales and properties, facilitates both quicker and improved business decisions for the company’s customers, including some of the most sophisticated participants from all segments of the commercial real estate market,” said Pete Chung, Head of Morgan Stanley Expansion Capital. “The CompStak team has developed a compelling SaaS business founded on one of the most valuable information sources we’ve seen in PropTech, by patiently building both the depth and breadth of their solution to solve the antiquated exchange of CRE information. We look forward to partnering and participating in CompStak’s continued success.”
CompStak’s core has always been in its unique approach to gathering data - 30,000+ members share lease comps, sale comps, and property data, receiving other data in return. This crowdsourced data model has allowed CompStak to capture information that is not available on any other platform today. With its Series C fundraise, CompStak will double down on its crowdsourcing methodology. In doing so, CompStak will be:
The leader in CRE data, powered by crowdsourcing, and made in partnership with the CRE industry.
CompStak creates transparency in commercial real estate markets by gathering information that is hard to find, difficult to compile, or otherwise unavailable. Since 2012, CompStak has delivered this unmatched insight to a network of tens of thousands of members and clients, including Morgan Stanley, SL Green, CPPIB, Comcast, Starwood Capital, CIM and every major brokerage nationwide. CompStak Exchange is an exclusive platform for CRE brokers, appraisers, and researchers to get analyst-reviewed commercial lease comps, sales comps, and property details at no charge. Through CompStak Enterprise and CompStak Analytics, lenders, landlords, and investors can access granular CRE transaction information and market analytics.
About Morgan Stanley Expansion Capital:
Morgan Stanley Expansion Capital is the growth-focused private investment platform within Morgan Stanley Investment Management. Morgan Stanley Expansion Capital targets growth equity and credit investments within technology, healthcare, consumer, digital media, and other high-growth sectors. For over three decades, Morgan Stanley Expansion Capital has successfully pursued growth investment opportunities and has completed investments in over 200 companies leveraging the global brand and network of Morgan Stanley. For further information about Morgan Stanley Expansion Capital, please visit www.morganstanley.com/im/expansioncapital.