The San Fransisco-based real estate visualization platform, Real5D has just recently raised 1.2m USD in funds to be able to scale its business model. The idea is pretty simple and straight forward to solve a big problem to finance or sell or lease real estate objects in the pre-construction phase: Real5d allows potential clients to walk through and experience the future object and see & feel it with their own eyes, how the property will look & feel like when it is completed. And you can do this via the internet without special technical skills.
Three Hungarian brothers, Peter, Daniel and Balazs Farago have initially founded the company based on Balazs’s idea, who used to be a C-level manager in real estate companies. Balazs Farago knew the market inside out and he was also aware of the challenges of marketing real estate objects before they have been completed. Balazs wanted to go the extra mile and to create something better than usual brochures and regular visualizations currently available on the market.
So what is Real5D? Real5D virtually lets you go through your real estate object of desire and interact with sales associates in real time. Instead of looking at brochures or 3D renderings of a property, Real5D allows the user to walk around the space if they were actually there. Once in the platform users can interact with the environment around them, riding the escalators, measuring walls and distances, meeting with sales associates and using other useful tools, such as trying out different colors, furniture set-up, and much more. This way prospective clients do not have to use their own imagination or travel to the other part of the world just to visit an existing or non-existing property. They can do it in the comfort of their home or offices. Currently, this is something totally new and nobody offers this on the market.
The business model is pretty straight forward – as it should be – and it has the following 3 main segments to generate revenue from architects and property development companies:
- Constructing the virtual rendering of a property and creating the immersive real5D environment.
- Hosting and maintenance is all taken care of on Real5D’s side through a monthly premium.
- Add on features such as virtual tour guides, drill-down user analytics, and other tools are available for additional costs.
For users this service is totally free of charge. By downloading the visualization software, potential clients can experience various properties of their choice.
The Farago-brothers originally started Real5D in Hungary, but they found it tough to scale and to gain traction, so they decided to move the company to San Francisco. When Balazs and Daniel first moved to the US, they started to show their product at different events. At one of these events, the Managing Partner of Double Rock Venture Capital, Suraj Rajwani, saw the potential in their product and within a few days the deal was closed and they secured 1.2M USD in funding.
Now their team as well as their client base is growing and they are currently partnering with development companies to implement the Real5D platform into all major projects with the plan to eventually lease out the virtual engine to architectural and real estate firms to bring real5D to all aspects of property development.
For more information please visit: www.real5d.com
Interview with Balazs and Daniel Farago before securing the funding:
Interview with Balazs Farago after securing the funding: