Innovative Data and Visualization Technology for the Real Estate Sector
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iLOOKABOUT Corp. (TSXV:ILA) is a Canada-based software, data analytics and visual intelligence company dedicated to providing software as a service (SaaS) offerings to the real estate, property assessment, property taxation, insurance and appraisal sectors. Continually expanding and improving its services, iLOOKABOUT delivers powerful data analytics through its Real Property Tax Analytics (RPTA) software, as well as access to desktop reviews of property data through its proprietary GeoViewPort platform, which combines integrated analytics and workflow management applications. In parallel, the company also offers real estate consulting services under the umbrella of its Municipal Tax Advisory Group, servicing the property tax and valuation markets.
As part of a transformative initiative that will act as a catalyst for value creation, iLOOKABOUT recently announced a joint venture project with Cherre Inc., a company which designed and developed an interconnected market platform providing investors and brokerages with real estate data. Under this joint venture, the partnership will combine iLOOKABOUT’s real estate knowledge with Cherre’s proprietary machine learning API to build a blockchain infrastructure that will, in the words of iLOOKABOUT CEO Gary Yeoman, “democratize real estate data across North America and capitalize on the demand for secure, integrated and accurate property information.”
In parallel, iLOOKABOUT also signed a letter of intent (LOI) in April 2018 to merge with Stratus Data Systems, as it looks to expand its real estate offering in the U.S. Stratus is an MLS software provider that offers a comprehensive technology platform for real estate boards and brokers in North America. In completing this merger, Stratus would work as a subsidiary of the company, giving iLOOKABOUT the opportunity to align its services within a single platform. “We’re extremely excited about this potential combination and what it may mean for our next phase of growth as we execute our acquisition strategy to expand our presence in the U.S. and Canada,” said iLOOKABOUT President Jeff Young.
Moving forward, the company also expects to tackle the valuation space, developing an application that can conduct automatic valuations of properties.
iLOOKABOUT is led by a management team with experience that extends across real estate, software development, blockchain technology and property tax assessments. As it undertakes its potential merger and the recently announced joint venture, iLOOKABOUT’s team will lever its depth of insight and experience to lead the real estate industry forward – developing a vital and vibrant ecosystem that will fundamentally change the way information is consumed across both commercial and residential markets. Management is also significantly invested in the company, with the board and executives holding approximately 35 to 40 percent of shares, demonstrating strong alignment with shareholder interests, and commitment to value creation.
- Joint venture with Cherre to add blockchain infrastructure to its services and conduct democratization of real estate data in North America
- Solution providers for all those involved in the real estate space
- Numerous offerings such as data analytics, visual intelligence and advisory services for property assessment, property taxation, municipal, insurance and appraisal sectors
- Signed LOI to merge with Stratus Data Systems
- Extensively experienced management team and board holds approximately 35 to 40 percent of shares
iLOOKABOUT will continue to deliver its legacy services while undertaking the blockchain initiative, and through the establishment of a decentralized marketplace that will enable all stakeholders in the real estate industry to seamlessly transact with each other, ushering in a new era of data integrity and usage opportunities.
The GVP is iLOOKABOUT’s imagery and property-focused web-based application, which unifies property data and allows for a detailed review of properties from the user’s desktop. The system is also supplemented by data verification, workflow management, field inspection and mobile appraising functionalities all designed to facilitate property inspections.
Real Property Tax Analytics (RPTA)
RPTA is a SaaS application that has access to data sets for over 5.5 million properties in Ontario. This data is complemented by the integration of mapping, imagery and census data from municipalities. Enabled with proprietary algorithms, the system gives users the option to analyze individual or multiple properties in a certain area from a number of perspectives, providing a platform for property comparison.
The system allows for the identification of property assessment risks in real time, helping those involved in real estate transactions to be fully informed.
Municipal Tax Advisory Group
iLOOKABOUT’s Municipal Tax Advisory Group is dedicated to providing clients with insights on the property tax landscape, helping them to develop strong knowledge, tools and resources needed for successful tax assessment and financial policies. The services provided by the team include assessment base management, analytics reports, tailored tax policy planning and support, as well as appeals management.
Gary Yeoman—Chairman and CEO
Gary Yeoman is currently the President of Yeoman and Associates, a real estate consulting company. Yeoman and Associates currently has a consulting agreement with iLOOKABOUT under which it provides sales and business development and advisory services. Prior to refocusing his business attention on his consulting work, he served as CEO of Altus Group (TSX:AIF), a real estate consultancy firm that supplies software, data and analytics intelligence. During his term as CEO from 2005 to 2011, he led Altus through a 7-year growth period during which the company realized a 425 percent increase in revenues from $75 million to approximately $325 million. During this period, he reorganized, re-focused and directed the business expansion from 15 Canadian offices to over 65 offices with business in 64 countries, orchestrating the acquisition of 25 companies located in six different continents at an approximate cost of $250 million. As an entrepreneur in 1997, he created Yeoman and Associates, a full service real estate consulting firm. With a focused strategic plan and vision, he grew the company to approximately 35 staff and $3.8 million of EBITDA, before merging with 3 other companies to take the Altus Group public in 2005. Prior to this, he joined Magna International as Director of Real Estate through an eleven year period from 1986 to 1997. He participated in the strategy and led matrix teams to deliver the real estate vision of an expanded footprint from 3 million square feet to more than 30 million square feet and over 100 manufacturing plants across the globe.
Jeff Young—President and Director
Jeff Young epitomizes the entrepreneur. He’s been successful across a variety of disciplines which means he has bought, built and sold six different enterprises across the globe. Now, as a founder of iLOOKABOUT, he is home and looking forward to leading the company to the top of the geo-spatial imaging category. He holds a degree in Economics from the University of Western Ontario. When he’s not stickhandling business opportunities, he’s running up the score in the hockey games he loves to play.
Jeff Hack—CTO and Director
Jeff Hack is one of those gifted individuals who can transform mathematical abstractions into practical services and products. The perfect mark in computer graphics in Engineering at The University of Western Ontario was an early indication of his aptitude for geo-spatial imagery. He holds three different patents and released the iLOOKABOUT cubic viewer for Virtual Tours 6 months ahead of QuickTime. He likes to fish in his off hours and finds locating a school of bass his most difficult calculation.
Mark Sheppard’s strategic planning experience is blue chip. Before coming to iLOOKABOUT in 2000, he held positions with Honeywell, Johnson & Johnson and Dofasco, honing his skills on multiple new initiatives in sales, marketing and procurement and professional development including a $20 million, multi-division e-marketing launch for Honeywell. Holding an MBA from the Ivey School of Business at The University of Western Ontario, he still finds time to ski, and to his credit, avoid the over 100,000 trees he planted when he was younger.
Robin Dyson joined iLOOKABOUT in July 2007 as its Chief Financial Officer. She is a Chartered Accountant, and has both public accounting and industry experience. Immediately prior to becoming Chief Financial Officer of iLOOKABOUT, she was a Manager with KPMG LLP, working out of its London and Waterloo offices. She also worked for KPMG LLP as a Staff Accountant in the Assurance Group and later as a Senior Accountant in the Corporate Recovery Group from September 1998 to May 2001. From June 2001 to January 2002, she was Internal Audit Manager for London Life Insurance Company. From January 2002 to January 2004, she held the position of Assistant Controller at JMP Engineering Inc., in London, Ontario. Before rejoining KPMG LLP in August 2004, she was the Finance Controller for Filogix Inc., also in London, Ontario. She received her Bachelor of Arts (Honours Business Administration) Degree from the Richard Ivey School of Business, University of Western Ontario in 1998 and her Chartered Accountant designation in 2001.
Since February 2010, Allan Bezanson has been the Managing Partner of Cornerstone Capital Partners, a Toronto-based investment bank specializing in structuring and facilitating investments in energy, resources and early stage technology sectors. Previously, he was President and Partner at Oballan Capital and Osprey Capital, Chairman of Bluewave Energy, President and Partner at Phoenix Research and Trading, and President of Protec Trading Inc. He has also served in senior roles with Nowsco Well Service with significant experience in the Middle and Far East, Europe and North Africa. He is also currently a director of Range Energy Resources Inc. and Longford Energy Inc.
John C. Drake—Director
John C. Drake is the President and co-founder of Drake Goodwin Corporation, a London, Ontario investment firm with diverse interests in financial services, real estate development and manufacturing. He is the Chair of the Board of Critical Outcome Technologies Inc., a TSXV company whose business is focused on the identification, profiling and optimization of targeted small molecules potentially effective in the treatment of human diseases through a proprietary computational platform technology. He is also the Vice Chairman of Children’s Choice Learning Centers, a leading provider of corporate childcare in the United States. He was the Chairman of DGM Bank and Trust Inc., a privately-owned offshore bank located in Barbados, from 2002 to 2008, and a director of Discovery Air Inc., an aviation services company whose shares are listed on the TSX, from 2006 until 2008. He is the co-owner of Redtail Golf Course, an exclusive private golf course located outside of Port Stanley, Ontario. He was appointed an Honorary Colonel of the 1st Hussars of the Royal Canadian Armored Corps. in 1999. He obtained his B.A. and LL.B degrees from the University of Western Ontario and was a member of the Law Society of Upper Canada from 1973 to 2012.
As founding President and sole owner of Hyde Construction Limited, Peter Hyde started a one man business in 1988, finding many projects while astutely growing a humble operation into a major force in the construction industry with an outstanding reputation in his field. This reputation is founded in the strength and experience of its principles, steadfast dedication to all owners and clients with an uncompromising commitment to quality. Personal dedication and a passionate commitment to supporting an astounding number of events, organizations and youth activities in his community has been recognized with many industry and community awards.
Gerald C. Quinn—Director
Gerald C. Quinn is and has been President of The Erin Mills Investment Corporation since September 1989. Erin Mills is a substantial private venture capital company with a diverse investment portfolio. Prior to joining Erin Mills, he served as a Senior Officer in Magna International Inc. and Barrincorp, both publicly traded companies, and he served as a Partner in the public accounting firm of Ernst & Young. He has been a Director of a number of public companies and is also a Director of a number of private companies in diverse industries. In addition, he now invests his own capital and acts as an investment advisor to emerging businesses. He is and has been a Director of a number of successful private Oil and Gas companies since 1991.
Phillip Millar received a Political Science degree from Western University prior to joining the Canadian Armed Forces as an Infantry Officer with the Royal Canadian Regiment, serving his country for twelve years, deployed on many overseas missions with the United Nations and NATO. Over the course of his career, he received specialized training in Information Warfare with the United States Staff college, Psychological Operations with the British Army, High-Level Strategic and Tactical courses within Canada’s Military, and a variety of vigorous “gut check” courses including Parachute and Reconnaissance Operations. He is an active real estate investor and has worked on many major projects and start-up ventures creating wealth and jobs within complex regulatory frameworks.
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