Introducing RIOS: The Innovative Data and Workflow Technology Platform Set to Empower the Development Industry
We’re excited to announce the launch of RIOS, the first collaborative company launched by R-LABS and Teranet! The latest company to come out of the lab, RIOS is a data and workflow platform that improves efficiency for government, industry, and consumers in the building and development process. RIOS will be led by two experienced co-founders, Joe Vaccaro, the former CEO of the Ontario Home Builders’ Association, and Antoni Wisniowski, the former President and CAO of the Municipal Property Assessment Corporation.
The RIOS Platform
Combining the deep industry and company building expertise from R-LABS, strong entrepreneurial DNA, and the housing data and registry capabilities from a single source of truth with Teranet, RIOS sets out to solve the critical challenges in the new housing development process.
As we covered in our blog on Expanding Industry Innovation into the Housing Market Flow, housing in the Greater Golden Horseshoe (GGH) is critical and complicated. As the GGH grows, there is substantial evidence to support the case that we will be unable to supply the necessary housing required, creating a tremendous amount of urgency around solving this challenge.
The platform will begin to solve these housing supply challenges by streamlining the processes and data available to stakeholders by first focusing on assignment fulfilment and new home warranties.
Assignment fulfilment will be managed on the platform by supplying stakeholders an industry standard fulfillment service that provides standardization of fees, payment schedules, workflow automation, notifications, and payment processing.
The warranty solution on the platform will provide consumers with seamless communication with regulators and developers, the ability to manage new home warranties post resale and a clear list of warranty items covered. Brokers benefit from the platform by consolidated warranty information for easy comparison between units and improved creditability among buyers. The platform solution also offers tangible benefits for developers by improving communication with consumers and regulators alongside increasing transparency to relevant parties.
What’s Next for RIOS
With the launch of the company, the team is growing quickly and is hiring for multiple roles. In addition, RIOS is will expand on established industry partnerships and scale the platform of products beyond assignment fulfilment and new home warranties.