L.D. Salmanson

When it comes to naming the best proptech company in the real estate data field, one could make the argument that L.D. Salmanson’s Manhattan-based data management platform is the Cherre on top.

That “one” would, of course, be Salmanson himself, the leader of Cherre, which has garnered the client and funding growth in 2024 to back up his claim.

“The last year has been a very, very tough year for the industry,” said Salmanson. “And, as a result, it’s also been a very difficult year for technology companies trying to sell into the industry in one of the toughest real estate and financial climate environments in history.”

Despite such macroeconomic headwinds, Cherre has continued to grow, he said. “We’re growing in the high double digits. I’m proud of that. The market has been difficult for everyone, what with companies going out of business and nobody having a budget. However, clients are choosing to work with Cherre because it’s a mission critical part of their company. They chose to grow with us during that time, and that was something we’re very proud of.”

Salmanson also credits how much the industry has moved toward technology, particularly in the last year.

“That change in the industry is driving everybody to think about data in ways that they just haven’t before, meaning they’re able now to do things today they just couldn’t perform previously,” said Salmanson. “Being able to understand how markets are performing, how their assets are performing — all in real time — it gives them a lot of scalability.”

As Commercial Observer first reported, just this past September Cherre secured $30 million in a Series C funding round to further attack the data management challenge.

HighSage Ventures, a capital-backed investment firm, led the round. Additional participants included real estate enterprise investors Nuveen Real Estate, RXR Arden Digital Ventures and certain principals at TA Realty, as well as current investors Trustbridge Partners, Glilot Capital Partners, Intel Capital and Carthona Capital.