Reonomy
Commercial property data platform now owned by Altus Group.
On the record
Checkpoint: Altus decides whether Reonomy stays core or gets divested ahead of its US listing
The call
Reonomy's data asset is real, but its fate now depends on Altus Group's portfolio choices before a 2027 listing, not on Reonomy's own moves in the market.
Reonomy collects and cleans information on 53 million properties, selling that data to real estate investors and lenders. It was once independent but was bought by Altus Group in 2021 and has since lost about 85 percent of its staff, making it hard to know if the company still works as a product. CoStar Group owns competing services like LoopNet and already does similar property research at scale, and AI tools can now do the messy work of matching and organizing property records without humans, so Reonomy's old advantage is eroding. The one thing that could matter: whether Altus keeps Reonomy as a real business through 2026 or sells it off, and whether the team ships an AI feature of its own by late 2026 instead of just folding into Altus's general product.
Why
01
AI pressure: Generative AI and agentic search tools. AI models can now match owners to properties directly, undercutting the paid lookup layer Reonomy sells. Could AI do the core job? Only partly.
02
Bigger players: CoStar Group. CoStar's LoopNet, Apartments.com and in-house research staff already outscale and outmarket Reonomy's shrunken 20-person team. Could a giant copy it? Yes, easily.
03
What protects it. A decade-built, entity-resolved dataset covering 53 million properties, still licensed by CBRE, Cushman and Wakefield, and Newmark.
What would change this call
Altus Group names or excludes Reonomy in 2026-2027 divestiture or listing announcements. Shows whether Reonomy is treated as core growth asset or wind-down candidate.
Reonomy headcount falls below 15 or stabilizes above 20 in coming filings. Indicates whether the unit is being wound down or stabilized.
A Reonomy-branded AI feature ships separately from Altus's ARGUS Assist by Q4 2026. Would show Reonomy retains distinct product identity rather than being absorbed.
Reonomy headcount falls below 15 or stabilizes above 20 in coming filings. Indicates whether the unit is being wound down or stabilized.
A Reonomy-branded AI feature ships separately from Altus's ARGUS Assist by Q4 2026. Would show Reonomy retains distinct product identity rather than being absorbed.
Key numbers
- Headcount fell from 133 to about 20, down 13% YoY
- Acquired by Altus Group for $201.5M
- Altus Group 2025 revenue $502.9M, up 3.9% YoY
Named risks
- Headcount collapse from ~133 to ~20 signals absorption or wind-down rather than growth.
- Parent Altus Group actively divesting business lines ahead of 2027 US listing, Reonomy could be a candidate.
- Reonomy results bundled into unbranded Altus reporting with no standalone financial disclosure since 2021.
- AI-driven entity resolution and natural language query tools could commoditize the lookup layer of the product.
- Recent Altus C-suite turnover (CEO and CCO departures in late 2025) adds organizational uncertainty.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| CoStar Group | losing to | CoStar's in-house research workforce cited as moat Reonomy lacks, per January 15, 2026 review |
| Moody's Analytics (RCA/Reis) | contesting | Cited as direct institutional CRE data rival to Reonomy per 2025-07-26 competitive landscape review |
| CompStak | contesting | Direct competitor for lease/sales comps data, compared head to head in 2024-10-15 pricing review |
| Cherre | contesting | Rival real estate data integration platform listed among top CRE data providers, 2025-07-23 |
| Crexi | contesting | Marketplace plus data competitor also lacking CoStar-level workforce moat, per 2026-01-15 review |
Questions people ask
- Is Reonomy still an independent company?
- No. Reonomy was acquired by Altus Group Limited (TSX: AIF) on November 11-12, 2021 for approximately US$201.5 million. It now operates as 'Reonomy, an Altus Group Business,' a subsidiary with no independent public financials since the deal closed.
- Is Reonomy profitable?
- At acquisition in November 2021, Reonomy's trailing twelve month revenue was about US$18.3 million against an Adjusted EBITDA loss of roughly $16.9 to $23 million, indicating it was unprofitable and investing heavily in growth rather than generating profit.
- Has Reonomy had layoffs?
- Headcount fell from approximately 133 employees in June 2021 to 34 by January 2024 and roughly 20 by June 2026, an estimated -13% year over year decline in the most recent period, per Crustdata tracking as of June 20, 2026.
- Could AI replace Reonomy?
- AI-based entity resolution and natural language property search could automate parts of Reonomy's lookup function, but its proprietary dataset of 53 million plus properties built through a decade of licensed title, lien, and ownership data curation is harder to replicate cheaply.
- Who is Reonomy's biggest competitor?
- CoStar Group is the dominant incumbent in commercial real estate data, via LoopNet, Apartments.com, and Ten-X, backed by a large in-house research and verification workforce widely cited as a moat Reonomy lacks, as of a January 15, 2026 industry review.
- Who owns Reonomy?
- Reonomy is owned by Altus Group Limited (TSX: AIF), a Toronto-based commercial real estate software and analytics company, which acquired Reonomy for approximately US$201.5 million in a deal announced November 11, 2021.
Timeline
- 2026-04-14Altus Group launches ARGUS Assist, an agentic AI layer across ARGUS Intelligence, not Reonomy-specific
- 2026-03-01Altus Group closes sale of Canadian Appraisals business to Newmark
- 2026-02-26Altus CEO announces plan to return up to $1.25B to shareholders and 2027 U.S. listing plan
- 2026-01-26Mike Gordon becomes Altus Group CEO and Chair
- 2025-11-06Former Altus CEO James Hannon departs
- 2025-10-31Former Altus Chief Commercial Officer Jorge Blanco departs
- 2025-10-31Reonomy logs 'continuous data quality improvements' product release under Altus
- 2024-01Reonomy headcount tracked at 34 employees, down sharply from acquisition levels
- 2021-11-11Altus Group announces acquisition of Reonomy for approximately US$201.5 million
- 2019-11Reonomy raises $60 million Series D led by Georgian Partners
Head to head
Revision history
21 July 2026
First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- Firm Advises Altus on $201.5 Million Acquisition of Reonomy (2021-11-12)
- Altus Strengthens CRE Data and Analytics Capabilities Through Acquisition of Reonomy (2021-11-11)
- Altus to pay $249.5M to acquire AI data platform Reonomy (2026-07-13)
- Reonomy - Headcount, Funding & Open Jobs (2026-06-20)
- Commercial Real Estate Data & Property Owner Lookup
- Plans Starting at $400/mo
- Altus CEO updates AI, plan to return up to $1.25B to shareholders (2026-02-26)
- Altus Group Annual Information Form (2026-02-19)
- Altus Group Announces the Sale of its Canadian Appraisals Business to Newmark (2026-02-17)
- Data quality improvements (2026-06-29)
- Altus Group unveils ARGUS Assist (2026-04-14)
- Revenue, Competitors, Alternatives