Though real estate may be one of the most significant industries in New York City, it is not without its many issues: Statistics indicate that the majority of real estate construction projects are over both time and budget. What’s more, these overages can be traced directly to a lack of technology in the real estate space, creating discord with real financial consequences.
Enter Honest Buildings. Founded in 2012 by Garrett Kubiak, James Roberts and Riggs Kubiak, the company was launched by a trio with experience in finance, tech and real estate.
Honest Buildings was developed to merge the worlds of real estate management, construction and tenant satisfaction into one seamless and straightforward platform, which is now used by some of the largest developers in the world, including Brookfield, Rudin Management and Oxford.
The platform functions by crunching vast quantities of real estate data and providing property managers with the statistics they need to make critical decisions about construction, leasing and more all in one space. Using the Honest Buildings platform, developers are able to find the best contractor for their project and budget, and monitor progress throughout the duration of construction.
Investors appear excited about the Honest Buildings product: since its founding, the company has raised a continuous stream of funding, with their latest Series B round of $5 million arriving mere days ago. In total, the company has pooled $47.8 million in funding since its inception.
Many of Honest Buildings’s investors also happen to be their customers, including the aforementioned Brookfield and Oxford.
Real estate is one of the foremost industries experiencing large-scale disruption through technology. Yet, while many startups focus on transforming the inside of buildings into new types of homes and offices, Honest Buildings represents one of the first companies looking at the picture from the ground up.
