R-LABS Partnership Welcomes Strategic Investment from Teranet to Expand its Industry Innovation Platform in Real Estate
TORONTO, May 18, 2021 /CNW/ - The R-LABS Canada Limited Partnership, a partnership of corporations dedicated to delivering innovation in the real estate industry through purpose-driven company building, is pleased to announce a strategic investment by its new partner Teranet, Canada's leader in modernizing statutory registry platforms and delivering insightful data intelligence and commercial solutions. Teranet's investment and participation in R-LABS will lead to the launch of new companies, expand the R-LABS platform capabilities in delivering innovation in the real estate industry and open new business model opportunities for Teranet.
The residential and commercial real estate markets in Canada and around the world are operating in an opportunity-rich environment as people, the industry, and governments work to manage housing affordability and changes in how we work, shop, and live. R-LABS was established in 2018 with deep innovation experience in the sector, a strong partner network, and a unique venture building platform designed to solve these challenges and deliver value through industry innovation.
Working in the R-LABS Open Innovation Program, Teranet's well-established capabilities across data and analytics, digitized workflow solutions, and managed services will help create new technology enabled businesses that can help solve key challenges in housing and commercial real estate.
"I've had the opportunity to deliver industry innovation with Teranet in the past as the Founder of RealNet Canada," said George Carras, Founder and CEO of R-LABS. "We are very excited to work again with the Teranet team in taking R-LABS industry innovation to the next level and help Canada be a global leader in real estate innovation."
"Partnering with R-LABS enables us to further our strategic vision for building stronger communities and economies," said Teranet President and CEO Elgin Farewell. "We are very excited to work with the R-LABS team to connect our organizations for the betterment of the Canadian real estate industry at large."
Together, R-LABS and Teranet are supporting the development of Canada as a centre for innovative real estate technology companies and entrepreneurs that focus on purpose-driven solutions. This partnership creates exciting opportunities for R-LABS, real estate industry stakeholders, and corporations across other industries that can help solve problems in real estate through open innovation and purpose-driven company building.
With this investment in R-LABS, Teranet joins a leading group of industry partners that includes Oxford Properties, Dorsay Development, and Empire Communities.
About R-LABS
R-LABS builds purpose-driven companies that solve major problems in real estate through technology-enabled ventures. R-LABS works closely with a growing group of institutional investors and game changing entrepreneurs to drive positive industry change and create a better future through innovation in real estate. R-LABS partner companies include R-Hauz, a leader in providing mass-timber housing as a product, and OneClose, a platform eliminating interim occupancy interest payments for new condo owners.
Contact: Jamil A. Karim
Email: [email protected]
Phone: 604-317-5786
About Teranet
Teranet is Canada's leader in the delivery and transformation of statutory registry services with extensive expertise in land and commercial registries. We also market insightful property intelligence and data solutions to thousands of customers in the real estate, financial services, government, utilities, and legal markets. Founded in 1991, Teranet operates the Electronic Registration System for the Province of Ontario, the Land Titles and Personal Property registries end-to-end for the Province of Manitoba, and Collateral Management Solutions—the market leader in Canadian lien registration and search, asset recovery services, and insolvency management. Most recently, Teranet expanded its global footprint by acquiring Foster Moore. This acquisition expands its registry solutions to include commercial off-the-shelf registry software that delivers operational cost reductions, enhanced security, and process improvements. We are proud to be recognized as one of Greater Toronto's Top 100 Employers for five years in a row (2017 - 2021).
Contact: Emily Boyce, Director, Marketing and Communications
Email: [email protected]
Phone: 647-882-6100
SOURCE R-LABS
Share this article