CBRE Scoops Up 3D Graphics Company Floored
By Liam La Guerre January 4, 2017 3:42 pm
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Continuing its recent investment in new real estate technology, CBRE has acquired 3D digital graphics maker Floored for an undisclosed sum, the brokerage announced Tuesday.
Floored, which was founded in 2012, creates interactive 3D images of properties. It’s products have been used in hospitality, residential, industrial and commercial properties as both a design and a marketing tool.
The company’s co-founders, David Eisenberg, Dustin Byrne and Judy He, have joined CBRE as of Jan. 1 as well as the tech firm’s 36 employees of engineers, designers and modelers.
“We have worked very hard over the past four years to invent groundbreaking technology for commercial real estate,” Eisenberg, Floored’s former CEO and now senior vice president of digital enablement and technology, said in a CBRE press release. “Together we will build powerful advantages for CBRE’s clients.”
Besides visualizing 3D images of spaces, Floored offers products that allow people to create custom layouts and make interactive 3D walk-throughs of unbuilt properties. The Floored staff will remain in its current offices at 159 West 25th Street between Avenue of the Americas and Seventh Avenue, a CBRE spokesman told Commercial Observer. Before the acquisition, Floored had raised $7.36 million in funding, according to Crunchbase.
“It was a very smart play by CBRE,” Nick Romito, a co-founder of real estate management platform VTS, said via an email. “Outside of having a new tool to service its existing clients, Floored is a great arrow in CBRE’s quiver to winning new business. A piece of powerful IP that can be used to market space to prospective tenants or tenant reps in an innovative way.”
In August, CBRE had invested an undisclosed amount in California-based startup Matterport, which also creates 3D images of real estate spaces, reflecting the brokerage’s interest in this technology.
“We are very excited to add Floored’s interactive 3D graphics to our growing suite of technology tools,” Chandra Dhandapani, CBRE’s chief digital and technology officer, said in prepared remarks. “Many of our leading professionals and clients have been using Floored technology and are very excited about their solutions. It gives our professionals a powerful advantage in the marketplace.”
