Cameron Steele, CEO
Founded in 2018, Leaseable brings massive amounts of business and tenant information together to empower CRE building owners with real-time data and insights that invite action. By extracting BI-ready data directly from its sources and making it available in easily digestible formats, the company’s cloud-based solution—the Leasable Cloud—gives building owners and investors a competitive advantage with a unique opportunity to mitigate risk, reveal business opportunities and elevate decision-making across individual assets, markets, and entire portfolios.
Following is the conversation that CIO Applications had with Leaseable’s CEO, Cameron Steele as to how his company delivers the ability to interpret and input information into their software, without wasting time and effort creating metadata, and without having to manage static reports. With over 25 years of experience in software, Steele was most recently an executive at OpenTable and Booking.com. He was COO and part of the founding executive team at buuteeq, Inc. that was acquired by Booking Holdings/Priceline Group in 2014. He also has an undergraduate degree from Stanford and an MBA from the Tuck School of Business at Dartmouth. Steele is indeed an adept leader to steer Leaseable forward.
What according to you, are the evolving trends in the PropTech Space?
We believe that CRE is entering a new era of real-time data that is equipping owners, developers, investors, analysts, and brokers with more insights at their fingertips to make more informed decisions than ever before.
The old way of using historical data to predict future trends is a thing of the past.
What are the challenges existing in the PropTech Solution space, and how is Leaseable effectively addressing these issues?
Many of the challenges we hear clients face center around maximizing the value of their assets through analysis and insights based on trusted data sources without losing efficiency and productivity. Leaseable is at the epicenter of the CRE ecosystem—the only data management platform that links source data with the final report any time and everywhere.
Today, lease abstracts are one time, throw-away exercises in futility— versioning, and tracking of static PDF documents full of meta-data created manually. We believe that leases themselves are the most valuable data asset for the CRE owner and our goal is to elevate the role of the lease throughout its entire life cycle from operations to financing, to the sale of the building.
In what ways do your clients leverage your solution offering?
Our customers use Leaseable for a number of scenarios including crafting rent rolls and encumbrance schedules to manage risk in real-time, constructing leases from existing clauses through dynamic search and filter capabilities, supporting dilienge requirements of stakeholders in transactions, and keeping track of critical dates and upcoming renewals—to name a few.
What are the strategies employed by Leaseable to thwart the market competition? What are the differentiating factors that give it a competitive edge?
Look at any CRE market map today, and you’ll see a bunch of AI, Big Data, and IoT solutions that frankly jump the gun when it comes to the real pain points of our customers. If it takes a week to pull together a rent roll for a portfolio or a day to find encumbrance history for a tenant, who cares about facial recognition at a building entrance? This is a symptom of a bigger technology conundrum. Many CRE startups claim a “customer first” approach but already have some convoluted tech solution they are just trying to justify.
At Leaseable, we tested solutions with customers first before we wrote a single line of code, and designed our product for CRE owners, not anybody else. Their pain was clear and pervasive, and Leaseable Cloud was born. We’re now solving the data problem with machine intelligence through a cloud-native product that provides a single source of data truth to CRE owners.
What does the future hold for your organization? Any footprint expansion plans or platform enhancement strategies that you can shed light upon?
We’re very excited by the opportunity before us. We are working on new insights and analytics capabilities that we believe will transform the relationship our customers have with their tenant and lease data.
Trends in machine intelligence, natural language processing, and prognostic analytics all point to capabilities like predicting whole portfolio performance, evaluating tenant risk profiles in real-time, curating tenant mix to mitigate risks, and building tenant options and encumbrances automatically into leasing models and portfolio risk profiles and dynamic audit profiles.