A commercial leasing startup is turning to its user base - brokers - to raise $2 million in seed funding. InTheMarket, or...
The Commercial Real Estate (CRE) leasing process is slow, inefficient, and outdated costing tenant-rep brokers hundreds of hours annually and burdening landlords with longer deal cycles and extended vacancies.
The ITM Marketplace is a cloud-based platform that directly connects tenant-rep brokers and landlords with automated and custom workflow tools making the entire leasing process faster and easier.
ITM was built on the thesis that demand drives the leasing business, and the entire CRE leasing process can be improved and accelerated by:
For Tenant Rep Brokers
For Landlords and agency brokers
PRICING & REVENUE MODEL
ITM’s API-driven architecture allows for seamless integration of third party and user generated data:
TOTAL ADDRESSABLE MARKET
InTheMarket is uniquely positioned in between the two leading PropTech companies in the leasing space, Costar and VTS valued at approximately $30 billion and $1 billion, respectively. As ITM accumulates market share, and introduces one of a kind software at a lower cost, a growing number of PropTech companies will look to ITM to further bolster their service offerings. Further, FinTech companies will have an interest in ITM for its vast data and that data’s application in the financial markets.
Steven Renbaum, Founder
Steven Renbaum has nearly two decades of experience in commercial real estate leasing. Renbaum grew his business representing both tenants and owners, most recently with Summit RE Partners; a boutique platform he cofounded in 2012. Prior to Summit, Renbaum was a Director at Newmark Knight Frank where he represented tenants and leading owners in New York City.
Prior to entering the commercial real estate business, Renbaum was one of the founding members of the technology firm Critical Mention in 2002, the leading provider of broadcast monitoring services which transformed the way PR firms, corporations, and government agencies monitor brand mentions on TV. Based in NYC, Critical Mention has 50 employees.
He began his career in finance in 1998 raising capital for a small hedge fund in New York City. He is a graduate of Syracuse University.
Michael Taxin, COO
Michael Taxin has over 15 years of experience in management positions with commercial real estate brokerages. Prior to joining ITM Michael served as Executive VP, Operations for Newmark Knight Frank’s retail leasing division with over 300 professionals in the United States and Canada. Michael handled administration, human resources, recruiting, legal, and operations functions for the division, including all broker/salesperson related matters.
Prior to its acquisition by Newmark, Michael was Executive Vice President of Operations and General Counsel for RKF, a preeminent leasing brokerage boutique in NYC which Michael helped to grow RKF from 25 people in one office to more than 200 people across 11 offices in major markets across North America, and global affiliations in the United Kingdom and Japan. At RKF, Michael led the development and implementation of a software program which provided end-to-end support for the sales team, achieving a 100% adoption rate among the company’s brokers.
Michael received a Juris Doctorate from Fordham University School of Law, and a Bachelor of Arts from The Newhouse School of Communications at Syracuse University. He is a licensed broker in New York and Massachusetts and is an active member of The Real Estate Board of New York (REBNY), The International Council of Shopping Centers (ICSC) and the New York State Bar Association (NYSBA).
Vibhor Gupta, Senior Engineer
Founder & Director, Mobiquel, an IT services & product firm which offers digital transformation solutions & SAAS products to MNCs, Government, Educational Institutions and Startups. Its clients include EY, Deloitte, State Governments (J&K, Rajasthan), Higher Education Institutions, Ed-Tech Ventures, Start-ups and SMEs.
Founder & Director, Weekendr, a skill and development venture with focus on Data Analytics, Data Science & Placement Prep catering to University Students, Research Scholars and Working Professionals
Charlie Colligan, Senior Advisor
Charles “Charlie” Colligan brings a wealth of domain expertise to ITM’s advisory board, having served as Treasurer for CoStar Group where he helped scale the business from $200M in revenue to $1.2B and market capitalization from $1B to $15B. Charlie established and led CoStar’s $750 million debt facilities as well their cash and investment portfolio, currently valued at $1 billion, which financed the company’s most strategic acquisitions between 2011 and 2018.
Currently, Charlie is Chief Financial and Administrative Officer of Coronis Health. He is responsible for the financial and operational performance of the company. Charlie has 30 years of experience developing and leading major strategic initiatives in sectors including healthcare technology, real estate, and financial services. Prior to his current role, he served as Chief Financial Officer at Aledade, which grew revenue by 4X and became profitable during his 2-year tenure and for which he was a finalist for the 2020 CFO of the Year Award for the Greater Washington region.
Earlier, he was Senior Vice President of Finance for Sallie Mae. He began his career on Wall Street at Merrill Lynch in the Capital Markets Group. Charlie graduated with honors in Economics from Harvard University.
Rich Macary, Senior Advisor
Rich Macary is the current Chief Strategy Officer of Delos and former President of Delos Ventures. Rich provides Delos, a wellness real estate and technology company, with senior level business development skills and a wealth of relevant experience on key value driving areas including business development, product innovation, concept/IP licensing, strategic partnerships, collaborations and joint ventures. Prior to joining Delos, Rich was Vice President of Business Development for Sarepta Therapeutics ($10.5 billion market cap), a leader in RNA based therapies targeting rare and infectious diseases. Rich spent the prior 20 years as a corporate consultant, advisor and analyst to both institutional and high-net-worth investors as well as a consultant, advisor, investor and board member to several public and private early to mid-stage companies operating in a diverse range of industries including biotechnology, medical devices, software, media, communications, retail and consumer products among others. His research and opinions have appeared in many media outlets including Forbes, The Wall Street Journal, Wired, CNN, Barron’s, Global Finance Magazine, Reuters and Bloomberg.
Paul Frischer, Senior Advisor
Paul Frischer, Senior Advisor
Frischer is the President of Frischer Kranz, Inc (FKI), a leading commercial real estate index, data aggregation and analytics platform. He has been involved in the real estate market for over 20 years, specializing in derivatives, equities and valuation forecasting. Frischer was also an Executive Managing Director at Newmark Knight Frank as Head of Strategy and Research for global and corporate accounts covering lease execution, property valuation, space allocation, and GIS systems. He was responsible for oversight of all NKF research and forecast analysis covering the US. Paul graduated from Bucknell University, BSBA, with honors, and holds an EMBA from NYU/Stern School of Business
Jesse Stein, Advisor
Jesse Stein has served as the Co-head of Republic Real Estate since its inception in May 2020. Previously, Mr. Stein served as the Chief Operating Officer of Compound Asset Management, Inc. from February 2018 until May 2020. Mr. Stein is also the Managing Principal of Advanced Fundamentals LLC, a data analytics and real estate indexing firm which he founded in July 2016. Previously, Mr. Stein was a founding member and the Chief Operating Officer of ETRE Financial, LLC, a real estate financial services and information technology company, from August 2012 until February 2016. Mr. Stein has a background in equities trading and real estate investment banking. He graduated from Cornell University and received a Master’s Degree in Real Estate Investment from New York University.