Housing Wire’s 6th annual Tech100 awards recognized BuildFax as one of the most cutting-edge tech companies in the housing sector. This marks the second year BuildFax has made the list. BuildFax first made the list in 2017. Since then, the company has almost doubled in size and grown at double-digit CAGR – a true testament to the growth and innovation happening at BuildFax.
“BuildFax isn’t a data company, it’s a people company – when we innovate, it’s with the end customer in mind,” said BuildFax CEO Holly Tachovsky. “We’re proud that we’re not only the leading provider of property insights, but that we drive value to the customer at every level of our organization.”
Tech100 highlights organizations that push the boundaries of innovation. Each year, HousingWire sees an increasing number of tech companies turn their attention to housing and real estate – this year, more than 300 companies were nominated for the award. What sets BuildFax apart is its breadth of data and ability to drive value in a number of housing-adjacent industries.
Property Insurance
Timely insights reveal the true risk on a carrier’s book of business
BuildFax is at the forefront of innovation in the P&C insurance sector. We unlock the power of property data to foster smarter decision making across the policy lifecycle, from underwriting to claims management and beyond. We not only offer property-level insights, but also deliver a macro-view of risk – on a monthly basis, BuildFax publishes its Housing Health Report, which provides carriers with a high-level understanding of how the risks in their book of business are changing based on systemic shifts in construction activity and external factors like natural disasters.
Hedge Funds and Investment Firms
Key housing indicators inform bottom-up investment strategies
Property intelligence, at both a macro- and micro-level, provide critical support to the financial sector. Hedge funds and investment firms leverage construction and remodeling trends as a lens into the greater economy. For instance, single-family housing authorizations, which BuildFax publishes days before the U.S. Census releases their figures, are highly correlated with historical recessions between 1961 and 2018. With high-quality data at their fingertips, companies can make more informed investment decisions. BuildFax’s investment solutions also assist in forecasting construction materials demand and key industry KPIs to inform bottom-up investment strategies.
Real Estate Investment Trusts (REITs)
Housing data shines a light on the true value of an underlying asset
We partner with REITs to deliver timely insights into the condition of a specific property or a number of properties within a given neighborhood. BuildFax collects verified data about a structure’s roof age, major system condition and more and leverages this data to provide accurate information on the health and condition of a structure, which in turn provides insight into its inherent value. The real estate market will see one of the greatest opportunities for investing in the next couple years. It’s especially important now, compared to years prior, for active investors to validate the underlying value of a property.
We’re honored to have been named one of the most innovative companies pushing the boundaries on real estate tech innovation. For more information about BuildFax and our product suite, contact us today.