BuildFax grabs another $4 million investment
BuildFax, which maintains a database of property history records, closed on a $4 million investment from DMG Information. DMGI is the business information division of British media conglomerate Daily Mail and General Trust. BuildFax updates its database from building permits. It contains major refurbishment permits on more than 70 million commercial and residential properties. It recently partnered with Equifax (EFX) to broaden its client reach. The latest investment follows a $9 million investment DMGI made in 2009. "BuildFax is taking this massive store of property data and turning it into actionable intelligence for the entire real estate eco-system," said DMGI Chief Financial Officer Paul Sykes. BuildFax used the original $9 million to begin tests with several insurance and financial companies. BuildFax recently launched its remodeling index, which provides monthly building permit activity filed with local building departments across the country. "We are empowered by our investors’ continued commitment to our business, as demonstrated by their on-going financial support of our growth," said BuildFax President Holly Tachovsky. Write to Jon Prior. Follow him on Twitter @JonAPrior.