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Appraisal SaaS Co. Growing Rapidly

SOFTWARE: Valcre Doubled Number of Clients in 2022

Valcre, a La Jolla software company that provides online services to commercial property appraisers, in 2022 more than doubled the number of appraisals that were done using its platform.

Last year, more than 50,000 commercial real estate appraisals of property worth more than $50 billion across five countries were completed using the firm’s software – up from 21,000 in 2021 and from 13,000 in 2020.

Lucas Rotter
CEO and Co-founder
Valcre

“We continue to add new clients and win really great partnerships with our clients.  We’ve had several large clients on our end sign long-term deals.  One was Avison Young that signed a three-year contract with us, really fortifying their commitment to technology,” said Lucas Rotter, CEO and co-founder of Valcre.

The company started with one client, grew to 215 in 2021, and by the end of 2022, had more than 300, including Avison Young which signed on last year.

By mid-2023, Valcre had 65 employees – all of whom work remotely, up from about 40 the year before.

The company’s name comes from a combination of what it does – “Val” for valuation – and “cre” for commercial real estate.

Valcre’s platform automatically enters information that appraisers might otherwise have to enter manually, performing tasks such as pulling up figures for comparable property.

Valcre lists La Jolla as its base because it’s where Rotter lives. Rotter co-founded Valcre in 2016 with Grant Norling.

“We’re technically headquartered here in San Diego, and we’ve got several people here in San Diego. We don’t hire with the intention of trying to hire in San Diego. If it happens that way. It’s amazing, awesome, it’s great, but we’re certainly not tied to only hiring in Southern California,” Rotter said.

The company toyed with the idea of setting up brick-and-mortar offices, and may yet, but so far Rotter said that he hasn’t seen the need, given the company’s performance with its remote work culture.

“We started in the very beginning as a remote company in 2016, and we did that because we wanted to be able to draw from the best talent in the world, not just from the best talent around where I live or around where my co-founder lives,” Rotter said. “Especially in building software, we can have people working on software 24/7 because we’ve got multiple time zones covered and different teams working in different time zones to ensure that we have coverage across all the hours of the day and we’re able to build more rapidly.”

Rotter said he expects that Valcre will keep growing, possibly at a slower pace because of the decreased demand for office space. “There’s certainly some additional hires that we are looking to make, but we’re also being very practical about that growth.”

Valcre

Founded: 2016
Headquarters: La Jolla
CEO: Lucas Rotter
Business: commercial real estate appraisal software company
Employees: 65
Website: www.valcre.com
Contact: 866-888-5882
Notable: Valcre’s platform allows appraisers to organize, access and maintain up-to-date data, including jobs, properties, sales, leases and expenses. The company offers templates for a variety of commercial real estate assets.

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