MIAMI, April 20, 2017 /PRNewswire/ -- Gridics, a Miami-based real estate technology startup, has announced the successful conclusion of a $1.1 million round of seed funding. The round was led by Dune Road Capital and included noted accredited investors such as John Dyett, Managing Director of Salem Partners, serial entrepreneur Robert Kall, CEO and co-founder of Cien.ai and leading Miami real estate developer Avra Jain. The company, which has raised over $2 million of development capital to date, is focused on further strengthening its product and driving adoption of its 3D zoning and planning application.
Gridics, short for Grid Analytics, was founded in 2015 with a vision of combining disparate real estate data sets into a single, hyper-local data platform. From this platform, the company creates software applications that help users make smarter investment and development decisions while streamlining fractured processes in the real estate world. The patent-pending 3D zoning application, for example, aims to revolutionize the way cities approach zoning and planning analysis while helping to bridge the gap between the private sector development community of architects, developers and attorneys by automating development feasibility analysis and streamlining the lengthy development plan approval process.
"We are thrilled by the reception we've received from cities that have been introduced to Gridics," says CEO Jason Doyle. "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 Gridics will streamline their zoning approval processes resulting in faster approvals, improved transparency and significant reductions to backlogs.”
In cities across America, the plan approval process commonly takes nine months or more. The zoning analysis portion is time-consuming and is a frequent bottleneck in the frustrating process. At the same time, cities are spending millions of dollars on major planning, transportation and redevelopment projects and must determine optimal zoning changes to drive the development growth they hope to achieve. Gridics attacks these pressure points by digitizing the rules and regulations of a city's zoning code and combining it with GIS data layers. This allows users to quickly and easily produce use-specific and geo-specific 3D visualizations of building massings, saving tens of thousands of dollars and months of analysis while improving the accuracy of their results and forecast models.
"Gridics solves a huge problem," says Peter Richards, managing partner of Dune Road Capital. "By creating a solution that can digitize and automate any zoning code, the Gridics team has created a way to streamline an antiqued process. The Gridics application unshackles real estate professionals, and the municipal departments they interact with, from the zoning books they tirelessly flip through. Because it increases productivity and saves time and money, Gridics has the ability to become the digital and interactive zoning platform that cities and developers have been waiting for.”
Gridics recently announced the beta launch of their Market Intelligence application, which allows real estate professionals to conduct hyper-local market analysis across the Gridics database. Over 1,000 members of the MIAMI Association of Realtors have joined Gridics since February. Gridics plans to expand their Market Intelligence application to other Realtor associations in the future.
Gridics is a real estate data and software development company. The Gridics hyper-local dataset powers two products, 3D Zoning and Market Intelligence. Learn more by visiting www.Gridics.com and www.Zonar.City.
SOURCE Gridics, LLC