Hightower: The System of Record for Real Estate

A few years ago, Brandon Weber, CEO and Cofounder of Hightower, and I were catching up over a casual dinner in Brooklyn. We had met ten years earlier when we started our careers at Microsoft and quickly became friends.  A few months before our dinner, Brandon left the commercial real estate (CRE) brokerage powerhouse CBRE, where we was a Vice President, to start Hightower because he saw that the industry was broken. He explained in fine detail the great paradox facing the industry. Despite CRE being a fifteen trillion dollar market and highly data intensive, many of the processes were manual and relied heavily on paper, excel and email.  Additionally, existing industry standard solutions such as Yardi, MRI and Argus were siloed and 20 years old. Brandon explained that he and his cofounders, Donald and Niall, were starting Hightower to solve these problems.

I was initially skeptical because I had seen dozens of real estate tech startups and many of them struggled to gain adoption with institutional landlords and brokers. CRE remained one of the major industries that hadn’t embraced the cloud and mobile.  My gut told me there was a huge opportunity because at some point in the near future “software would eat” CRE. After spending more time with Brandon and his cofounders, they convinced me the time had come and they were the right team to back.  They argued the market was ready because brokers and landlords were using iPhones, Google, Facebook and other cloud-based tools in their personal lives.  These customers now wanted and expected the same quality of tools at work.  As we dug deeper, it became obvious that Brandon, Donald and Niall were the right team to invest in because they had the unique blend of domain expertise and world-class product experience. A few months later, RRE Ventures was lucky to invest in Hightower’s seed round along with strategic investors Thrive, Bessemer, The Box Group, and Red Swan among others.

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New Investment: Breather

Two years ago I was introduced to Julien Smith, Founder / CEO of Montreal and NYC-based Breather, by my good friend Taylor Davidson. Taylor explained that Breather was building a new type of private cafe that could be accessed via mobile app. I thought the concept sounded crazy and unique at the same time so I agreed to take a meeting with Julien. When I first met Julien and he explained the concept to me, I believed he was absolutely nuts. For those of you who haven’t heard of Breather, it’s a network of private spaces you can access by the hour through an iPhone and Android app. Think of Breather as productive and private space on demand. 

Breather quietly launched in NYC earlier this year and Julien encouraged me to give it a shot. I believe I was one of their first customers. In fact, I was so pleasantly surprised by the experience I decided to write a detailed post about what it’s like to work in a Breather space. I had never experienced anything quite like it. The company created a “full stack” experience that felt like magic. Pull out my phone. Activate the Breather app. Pick a location. Reserve a time slot. Invite colleagues. Turn by turn directions to the space. Arrive at the door. Access the space via the Breather app. And presto! I now have private space all to myself. Here’s where Breather is different: they own the end-to-end experience from the app all the way down to the look and feel of the spaces. The experience is carefully crafted and consistent throughout the network. You can tell the team deeply cares about the user experience. A well-known investor used the service after I encouraged him to give it a try. He texted me immediately afterwards and simply wrote, “It was flawless.”  

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