CompStak
CompStak runs a crowdsourced database of commercial real estate lease terms fed by brokers.
On the record
Checkpoint: CoStar antitrust lawsuit (filed against CompStak's market) moves through court
The call
CompStak's broker network keeps supplying data CoStar hasn't matched, but no funding round in over four years and shrinking headcount raise questions about how long it can keep running on its own.
CompStak collects real lease prices and terms from over 40,000 brokers and sells that information to real estate professionals, competing mainly against CoStar Group, which controls about 80% of the commercial real estate data market. The company's data is hard to replace because it comes from real brokers sharing actual deals, not from public records or AI, and CoStar has tried and failed to build something similar in 14 years, even through lawsuits. But CompStak has not raised money since 2021, has lost about 5% of its staff over the past year, and revenue appears flat, which signals the company may be running out of cash or investor patience, especially as other data competitors get bought by larger firms or run out of money themselves.
Why
01
AI pressure: None apparent. AI tools need CompStak's broker-sourced lease data as input; the company launched CompStak AI in Dec 2025 to sell on top of it, not against it. Could AI do the core job? Unlikely.
02
Bigger players: CoStar Group. CoStar holds roughly 80% of CRE data/listings share, owns LoopNet and Apartments.com, and has litigated CompStak before over data practices. Could a giant copy it? Probably.
03
What protects it. A 14-year-old network of 40,000+ brokers who keep feeding it non-public lease terms that CoStar has not replicated.
What would change this call
CompStak announces a new equity round or acquisition offer within the next year. Would show renewed investor confidence after 4.5 years without funding.
CompStak headcount drops further below current ~131 in next reporting period. Would indicate deepening financial distress or cost-cutting.
CoStar or RealPage launches a broker-contributed comp-data product. Would show an incumbent directly replicating CompStak's crowdsourced data moat.
CompStak headcount drops further below current ~131 in next reporting period. Would indicate deepening financial distress or cost-cutting.
CoStar or RealPage launches a broker-contributed comp-data product. Would show an incumbent directly replicating CompStak's crowdsourced data moat.
Key numbers
- 40,000+ brokers contribute lease data to the Exchange
- No new equity round since $50M Series C in Nov 2021
- Headcount ~131, down about 5% year over year
Named risks
- No new equity round since Nov 2021 Series C, over 4.5 years, raising capital runway concerns.
- CoStar Group's ~80% market dominance and history of litigating smaller CRE data rivals.
- Headcount declined 5% YoY as of July 2026 amid flat growth signals.
- Sector consolidation (Reonomy, Cherre acquired) leaves CompStak an isolated independent target or laggard.
- Office-market exposure, with CompStak's own data flagging ~30% of SF AI-tenant leases expiring by end of 2025.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| CoStar Group | contesting | CoStar holds ~80% CRE data market share (Apr 2026 antitrust filing) and has litigated CompStak before |
| RealPage (via Cherre acquisition) | gaining on | RealPage completed acquisition of rival data platform Cherre on Jul 14, 2026, consolidating the sector |
| Altus Group (via Reonomy acquisition) | gaining on | Altus Group absorbed CRE data rival Reonomy for $200M in Nov 2021, removing an independent peer |
| VTS | contesting | VTS competes in adjacent leasing/asset management data with $452.1M total funding, last raise Sep 2022 |
Questions people ask
- Is CompStak in financial trouble?
- There's no confirmed sign of distress, but the funding picture is murky. CompStak last raised a priced round in November 2021 ($50M Series C led by Morgan Stanley Expansion Capital), and a secondary transaction in December 2025 has not had its terms or buyer disclosed as of the July 2026 assessment. Watch whether CompStak announces a new priced funding round by December 2026, since that would clarify its financial footing.
- Who are CompStak's biggest competitors?
- CoStar Group is the dominant rival, competing for the same commercial real estate data budgets with a much larger comps and analytics suite. Crexi is a fast-growing marketplace closing in from another angle, while Reonomy and RCA (MSCI) compete on adjacent public-records and sales-comp data but lack CompStak's lease-level depth. Among 228 real estate data companies assessed in July 2026, CompStak sits between the dominant CoStar and smaller public-records-based rivals like Reonomy.
- Is CompStak at risk from AI?
- Direct AI replacement looks unlikely for now. CompStak's crowdsourced lease-comp data, contributed by more than 40,000 brokers, appraisers, and researchers, is difficult for generic AI tools to reproduce since it depends on ongoing human-sourced broker relationships rather than public records. Reonomy uses AI to mine public records for sales comps but still cannot replicate CompStak's broker-sourced lease data.
- What is CompStak's biggest risk right now?
- The biggest risk is a large incumbent move rather than an AI threat. CoStar Group has been acquiring CRE-adjacent firms like Matterport and Visual Lease, which signals it could eventually target lease-comp data directly. A key dated watch-item is whether CoStar launches a direct crowdsourced lease-comp product by December 2026, which would test CompStak's core data advantage.
- What gives CompStak its competitive edge?
- CompStak's edge is the breadth and depth of its crowdsourced lease-comp data, built over roughly fourteen years from over 40,000 contributing brokers, appraisers, and researchers and covering 2.33 million-plus commercial properties as of mid-2026. This data is difficult for AI tools or public-records-based competitors like Reonomy to reproduce, and it gives CompStak coverage in non-disclosure states that rivals struggle to match.
Timeline
- 2026-07-14RealPage completes all-cash acquisition of rival CRE data platform Cherre
- 2026-04-15Antitrust class action filed against CoStar Group citing ~80% CRE data market share
- 2025-12-09CompStak launches CompStak AI, an AI analytics suite over its lease dataset
- 2025-10-08CompStak launches Strategic Advisory practice for institutional clients
- 2024-09Competitor Cherre raises $30M Series C
- 2023-07-21CompStak announces new NYC headquarters lease
- 2023-07-06CompStak integrates into National Association of Realtors' RPR platform
- 2021-11-12CompStak raises $50M Series C led by Morgan Stanley Expansion Capital
- 2021-11Competitor Reonomy acquired by Altus Group for $200M
- 2019-05CompStak raises $12M Series B led by IA Capital, with RealPage as investor
Head to head
Revision history
31 July 2026
First assessed. Protection under test. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- CompStak (2025-11-07)
- CompStak® - Headcount, Funding & Open Jobs (2026-07-19)
- Revenue, Competitors, Alternatives (2022-04-05)
- CompStak, A Proptech Firm... Raises $50M (2021-11-15)
- CompStak Launches CompStak AI (2025-12-09)
- CompStak Launches Strategic Advisory Practice (2025-10-08)
- NAR Integrates CompStak into RPR® Platform (2023-07-06)
- Commercial Real Estate Antitrust Class Action Filed Against CoStar (2026-04-15)
- CoStar files suit against Xceligent (2016-12-13)
- Reonomy, Funding, Investors & Team (2026-07-02)
- Cherre Awarded 'Commercial Data Management Platform of the Year' (2025-08-12)
- The Cherry on Top (RealPage/Cherre) (2026-07-16)