Chicago-based real estate technology firm Realync Corp. plans hire almost 50 people at a new office in Indianapolis after receiving an infusion of venture capital and potential tax breaks from the state, the company announced Tuesday.
Realync said it has completed a $1.1 million round of seed funding led by Indianapolis-based Meridian Street Capital. Locally based VisionTech Partners, Chicago-based M25 Group and Carmel-based Charmides Capital also participated in the round.
Tom Eggleston, managing director of Charmides Capital, will join the Realync board of directors as part of the venture capital agreement.
The company said the funding will allow it to open a local headquarters in an existing office space at 5724 Birtz Road, in the Fort Harrison area, near North Post Road and East 56th Street. VisionTech Partners is a tenant in the same building.
Realync offers a cloud-based platform to the real estate industry that enables live virtual property tours and open houses. The firm says its product “brings leasing teams and prospective tenants together using an immersive, real-time experience.”
According to the Indiana Economic Development Corp., Realync plans to spend $798,000 to establish the local office and hire 48 workers by the end of 2020. The IEDC is offering the company $650,000 in tax credits if it can meet those job commitments.
Realync said it plans to hire a chief technology officer, customer success manager, engineers and sales staff at the new office.
The company said it will continue to operate from and expand its Chicago office. Founded in 2012, Realync’s products have users in 47 states and 30 countries. It clients include Alliance, Waterton, LivCor and Milhaus.