Real5D takes floor plans from property developers and architects to create immersive environments where buyers can explore. The immersive environment platform just secured $1.2 million in funding through AngelList from Double Rock, and is running lean. Very lean.
When I got a hold of Dan Canfield, Vice President of Investor Relations for the company, he was toiling away in the Hilton on O’Farrell Street. He said he’s not staying there but that they have great WiFi, access to a Starbucks and FedEx, and it’s busy enough that no one will notice you loitering. (I’ve either just ruined that for them, or launched the Hilton Lobby Accelerator.)
The real5D team creates buildings inside their virtual reality world based on architectural plans provided. Aside from just zooming around inside a 3D rendering, buyers can meet a real-life real estate agent, who can offer a tours, show different room options, and answer questions. The product is aimed at solving the problem of “reaching property,” says Dan.
Real5D’s founders are brothers Belazs and Daniel Farago. They initially based their operation in Hungary but realized there was no potential for gathering funding – a much needed aspect in a cloud-based 3D world – so they moved their operation to San Francisco. The duo landed their project in the Funders and Founders Augmented Reality Competition.
Dan’s involvement was more serendipitous. He and his roommmate had heard about real5D and decided to check them out at Funders and Founders. During the product display, Belazs was called away and Dan was left alone at the table. He started pitching the company to passersby who were holding votes in the competition. Clearly, Dean did a decent job – real5D won the competition and Canfield was brought onboard the team of 15 shortly thereafter.
On top of securing seed funding of $1.2 million, real5D is searching out more backing. They aim to expand out, hiring 10 sales people overseas as well as growing their presence in other markets. They believe that large commercial space and apartments under development are idea for the platform, where buyers may want to tour a space before committing to it. Canada and Israel are their current hotspots, with one project underway in Japan.
Eventually, they aim to develop the product enough that developers and architects will be able to enter their own property sites into the program, without real5D’s team doing all the heavy lifting.
Things have been moving fast for the company, who only just set down roots in town and are searching out the basics – like maybe a non-rendered commercial space of their own. That said, Dan adds that “anywhere and everywhere is fair game.”