# EDGAR Filing Document

**Accession Number:** 0001862461
**File Stem:** 0000899140-25-001270
**Filing Date:** 2025-11
**Character Count:** 29843
**Document Hash:** 3ceb52432aea66896c24f59d6fca64b3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000899140-25-001270.hdr.sgml**: 20251113

**ACCESSION NUMBER**: 0000899140-25-001270

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251113

**DATE AS OF CHANGE**: 20251113

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Real Brokerage Inc
- **CENTRAL INDEX KEY:** 0001862461
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE AGENTS & MANAGERS (FOR OTHERS) [6531]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A6
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-93346
- **FILM NUMBER:** 251478796

**BUSINESS ADDRESS:**
- **STREET 1:** 701 BRICKELL AVENUE, 17TH FLOOR
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131
- **BUSINESS PHONE:** 646-469-7107

**MAIL ADDRESS:**
- **STREET 1:** 701 BRICKELL AVENUE, 17TH FLOOR
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Insight Partners (Cayman) XI, L.P.
- **CENTRAL INDEX KEY:** 0001792449

**ORGANIZATION NAME:**
- **EIN:** 981501811
- **STATE OF INCORPORATION:** E9

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A

**BUSINESS ADDRESS:**
- **STREET 1:** BOX 309, UGLAND HOUSE
- **CITY:** !GRAND CAYMAN
- **STATE:** E9
- **ZIP:** KY1-1104
- **BUSINESS PHONE:** (212) 230-9200

**MAIL ADDRESS:**
- **STREET 1:** BOX 309, UGLAND HOUSE
- **CITY:** !GRAND CAYMAN
- **STATE:** E9
- **ZIP:** KY1-1104

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** insight Partners (Cayman) XI, L.P.
- **DATE OF NAME CHANGE:** 20191028

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**(Amendment No. 4)**

**Issuer:** Real Brokerage Inc

**Title of Class of Securities:** Common Shares, no par value

**CUSIP Number:** 75585H206

**Date of Event Which Requires Filing of this Statement:** 09/30/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [ ] Rule 13d-1(c)

- [x] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>Insight Partners (Cayman) XI, L.P. | Names of Reporting Persons<br>Insight Partners (Cayman) XI, L.P. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>3472749 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>3472749 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>3472749 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>3472749 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>1.6% | Percent of Class Represented by Amount in Row (9)<br>1.6% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** The percentage in Row (11) is based upon approximately 210,911,000 Common Shares of the Issuer outstanding as of September 30, 2025, as reported on Form 6-K of the Issuer filed with the U.S. Securities and Exchange Commission on October 30, 2025.

---

| 1. | Names of Reporting Persons<br>Insight Partners (Delaware) XI, L.P. | Names of Reporting Persons<br>Insight Partners (Delaware) XI, L.P. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>443410 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>443410 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>443410 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>443410 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0.2% | Percent of Class Represented by Amount in Row (9)<br>0.2% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** The percentage in Row (11) is based upon approximately 210,911,000 Common Shares of the Issuer outstanding as of September 30, 2025, as reported on Form 6-K of the Issuer filed with the U.S. Securities and Exchange Commission on October 30, 2025.

---

| 1. | Names of Reporting Persons<br>Insight Partners (EU) XI, S.C.Sp. | Names of Reporting Persons<br>Insight Partners (EU) XI, S.C.Sp. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>N4 | Citizenship or Place of Organization<br>N4 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>411895 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>411895 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>411895 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>411895 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0.2% | Percent of Class Represented by Amount in Row (9)<br>0.2% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** The percentage in Row (11) is based upon approximately 210,911,000 Common Shares of the Issuer outstanding as of September 30, 2025, as reported on Form 6-K of the Issuer filed with the U.S. Securities and Exchange Commission on October 30, 2025.

---

| 1. | Names of Reporting Persons<br>Insight Partners XI (Co-Investors) (B), L.P. | Names of Reporting Persons<br>Insight Partners XI (Co-Investors) (B), L.P. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>72754 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>72754 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>72754 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>72754 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0% | Percent of Class Represented by Amount in Row (9)<br>0% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** The percentage in Row (11) is based upon approximately 210,911,000 Common Shares of the Issuer outstanding as of September 30, 2025, as reported on Form 6-K of the Issuer filed with the U.S. Securities and Exchange Commission on October 30, 2025.

---

| 1. | Names of Reporting Persons<br>Insight Partners XI (Co-Investors), L.P. | Names of Reporting Persons<br>Insight Partners XI (Co-Investors), L.P. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>52783 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>52783 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>52783 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>52783 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0% | Percent of Class Represented by Amount in Row (9)<br>0% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** The percentage in Row (11) is based upon approximately 208,121,000 Common Shares of the Issuer outstanding as of June 30, 2025, as reported on Form 6-K of the Issuer filed with the U.S. Securities and Exchange Commission on August 7, 2025.

---

| 1. | Names of Reporting Persons<br>Insight Partners XI, L.P. | Names of Reporting Persons<br>Insight Partners XI, L.P. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>3169870 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>3169870 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>3169870 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>3169870 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>1.5% | Percent of Class Represented by Amount in Row (9)<br>1.5% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** The percentage in Row (11) is based upon approximately 210,911,000 Common Shares of the Issuer outstanding as of September 30, 2025, as reported on Form 6-K of the Issuer filed with the U.S. Securities and Exchange Commission on October 30, 2025.

---

| 1. | Names of Reporting Persons<br>Insight Associates XI, L.P. | Names of Reporting Persons<br>Insight Associates XI, L.P. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>7211566 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>7211566 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>7211566 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>7211566 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>3.4% | Percent of Class Represented by Amount in Row (9)<br>3.4% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** The percentage in Row (11) is based upon approximately 210,911,000 Common Shares of the Issuer outstanding as of September30, 2025, as reported on Form 6-K of the Issuer filed with the U.S. Securities and Exchange Commission on October 30, 2025.

---

| 1. | Names of Reporting Persons<br>Insight Associates XI, Ltd. | Names of Reporting Persons<br>Insight Associates XI, Ltd. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>7211566 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>7211566 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>7211566 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>7211566 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>3.4% | Percent of Class Represented by Amount in Row (9)<br>3.4% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

**Comment for Type of Reporting Person:** The percentage in Row (11) is based upon approximately 210,911,000 Common Shares of the Issuer outstanding as of September 30, 2025, as reported on Form 6-K of the Issuer filed with the U.S. Securities and Exchange Commission on October 30, 2025.

---

| 1. | Names of Reporting Persons<br>Insight Associates (EU) XI, S.a.r.l. | Names of Reporting Persons<br>Insight Associates (EU) XI, S.a.r.l. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>N4 | Citizenship or Place of Organization<br>N4 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>411895 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>411895 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>411895 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>411895 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0.2% | Percent of Class Represented by Amount in Row (9)<br>0.2% |
| 12. | Type of Reporting Person (See Instructions)<br>OO | Type of Reporting Person (See Instructions)<br>OO |

**Comment for Type of Reporting Person:** The percentage in Row (11) is based upon approximately 210,911,000 Common Shares of the Issuer outstanding as of September 30, 2025, as reported on Form 6-K of the Issuer filed with the U.S. Securities and Exchange Commission on October 30, 2025.

---

| 1. | Names of Reporting Persons<br>Insight Venture Management, LLC | Names of Reporting Persons<br>Insight Venture Management, LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>123696 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>123696 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>123696 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>123696 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0.1% | Percent of Class Represented by Amount in Row (9)<br>0.1% |
| 12. | Type of Reporting Person (See Instructions)<br>OO | Type of Reporting Person (See Instructions)<br>OO |

**Comment for Type of Reporting Person:** Amounts in Rows (6), (8) and (9) include 32,751, 60,000 and 30,945 Common Shares issued upon the settlement of restricted share units ("RSUs") on January 25, 2023, March 17, 2024 and May 31, 2025, respectively; excludes 34,965 Common Shares issuable upon the settlement of RSUs that vest on May 30, 2026.

The percentage in Row (11) is based upon approximately 210,911,000 Common Shares of the Issuer outstanding as of September 30, 2025, as reported on Form 6-K of the Issuer filed with the U.S. Securities and Exchange Commission on October 30, 2025.

---

| 1. | Names of Reporting Persons<br>Insight Holdings Group, LLC | Names of Reporting Persons<br>Insight Holdings Group, LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>7747157 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>7747157 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>7747157 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>7747157 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>3.7% | Percent of Class Represented by Amount in Row (9)<br>3.7% |
| 12. | Type of Reporting Person (See Instructions)<br>OO | Type of Reporting Person (See Instructions)<br>OO |

**Comment for Type of Reporting Person:** The percentage in Row (11) is based upon approximately 210,911,000 Common Shares of the Issuer outstanding as of September 30, 2025, as reported on Form 6-K of the Issuer filed with the U.S. Securities and Exchange Commission on October 30, 2025.

---

**Item 1(a). Name of Issuer:**
Real Brokerage Inc

**Item 1(b). Address of Issuer's Principal Executive Offices:**
701 Brickell Avenue, 17th Floor, Miami, Florida, 33131

**Item 2(a). Name of Person Filing:**
This Statement is being filed by the following persons (each a "Reporting Person" and, collectively, the "Reporting Persons"): (i) Insight Partners (Cayman) XI, L.P., a Cayman Islands exempted limited partnership ("Cayman XI"), (ii) Insight Partners (Delaware) XI, L.P., a Delaware limited partnership ("Delaware XI"), (iii) Insight Partners XI (Co-Investors) (B), L.P., a Cayman Islands exempted limited partnership ("Co-Investors XI B"), (iv) Insight Partners XI (Co-Investors), L.P., a Cayman Islands exempted limited partnership ("Co-Investors XI"), (v) Insight Partners XI, L.P., a Cayman Islands exempted limited partnership ("IP XI" and, together with Cayman XI, Delaware XI, Co-Investors XI B and Co-Investors XI, the "Fund XI Entities"), (vi) Insight Associates XI, L.P., a Cayman Islands exempted limited partnership ("IA XI LP"), (vii) Insight Associates XI, Ltd., a Cayman Islands exempted company ("IA XI Ltd") (viii) Insight Partners (EU) XI, S.C.Sp., a Luxembourg special limited partnership ("EU XI" and, together with the Fund XI Entities, the "XI Funds"), (ix) Insight Associates (EU) XI, S.a.r.l., a Luxembourg limited liability company ("IA EU XI"), (x) Insight Venture Management, LLC, a Delaware limited liability company ("IVM") and (xi) Insight Holdings Group, LLC, a Delaware limited liability company ("Holdings"). 

The general partner of each of the Fund XI Entities is IA XI LP, whose general partner is IA XI Ltd. The general partner of EU XI is IA EU XI . The sole shareholder of IA XI Ltd, IA EU XI and IVM is Holdings.

**Item 2(b). Address of Principal Business Office:**
The address of the principal business and principal office of each of the Reporting Persons is c/o Insight Partners,1114 Avenue of the Americas, 36th Floor, New York, New York 10036.

**Item 2(c). Citizenship:**
See Item 2(a).

**Item 2(d). Title of Class of Securities:**
Common Shares, no par value

**Item 2(e). CUSIP Number:**
75585H206

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

The information required by Items 4(a)-(c) is set forth in Rows 5-11 of the cover pages hereto for each Reporting Person and is incorporated herein by reference for each such Reporting Person.

**(b) Percent of class:**

—

**Item 5. Ownership of Five Percent or Less of a Class.**

[ ] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

The Reporting Persons are making this single, joint filing because they may be deemed to constitute a "group" within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The agreement among the Reporting Persons to file jointly in accordance with Rule 13d-1(k) of the Exchange Act is attached hereto as Exhibit 99.1. The Reporting Persons disclaim membership in a group and this report shall not be deemed an admission by any of the Reporting Persons that they are or may be members of a "group" for purposes of Rule 13d-5 or for any other purpose.

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

—

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Insight Partners (Cayman) XI, L.P.**

**Date:** 11/13/2025

**By:** /s/ Andrew Prodromos

**Name & Title:** Andrew Prodromos/Authorized Officer

**Insight Partners (Delaware) XI, L.P.**

**Date:** 11/13/2025

**By:** /s/ Andrew Prodromos

**Name & Title:** Andrew Prodromos/Authorized Officer

**Insight Partners (EU) XI, S.C.Sp.**

**Date:** 11/13/2025

**By:** /s/ Andrew Prodromos

**Name & Title:** Andrew Prodromos/Authorized Officer

**Insight Partners XI (Co-Investors) (B), L.P.**

**Date:** 11/13/2025

**By:** /s/ Andrew Prodromos

**Name & Title:** Andrew Prodromos/Authorized Officer

**Insight Partners XI (Co-Investors), L.P.**

**Date:** 11/13/2025

**By:** /s/ Andrew Prodromos

**Name & Title:** Andrew Prodromos/Authorized Officer

**Insight Partners XI, L.P.**

**Date:** 11/13/2025

**By:** /s/ Andrew Prodromos

**Name & Title:** Andrew Prodromos/Authorized Officer

**Insight Associates XI, L.P.**

**Date:** 11/13/2025

**By:** /s/ Andrew Prodromos

**Name & Title:** Andrew Prodromos/Authorized Officer

**Insight Associates XI, Ltd.**

**Date:** 11/13/2025

**By:** /s/ Andrew Prodromos

**Name & Title:** Andrew Prodromos/Authorized Officer

**Insight Associates (EU) XI, S.a.r.l.**

**Date:** 11/13/2025

**By:** /s/ Andrew Prodromos

**Name & Title:** Andrew Prodromos/Authorized Officer

**Insight Venture Management, LLC**

**Date:** 11/13/2025

**By:** /s/ Andrew Prodromos

**Name & Title:** Andrew Prodromos/Attorney-in-Fact

**Insight Holdings Group, LLC**

**Date:** 11/13/2025

**By:** /s/ Andrew Prodromos

**Name & Title:** Andrew Prodromos/Attorney-in-Fact