SCHEDULE 13G/A 0000899140-22-000208 0001792449 XXXXXXXX LIVE 4 Common Shares, no par value 09/30/2025 0001862461 Real Brokerage Inc 75585H206 701 Brickell Avenue 17th Floor Miami FL 33131 Rule 13d-1(d) Insight Partners (Cayman) XI, L.P. E9 0 3472749 0 3472749 3472749 N 1.6 PN 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. Insight Partners (Delaware) XI, L.P. DE 0 443410 0 443410 443410 N 0.2 PN 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. Insight Partners (EU) XI, S.C.Sp. N4 0 411895 0 411895 411895 N 0.2 PN 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. Insight Partners XI (Co-Investors) (B), L.P. E9 0 72754 0 72754 72754 N 0 PN 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. Insight Partners XI (Co-Investors), L.P. E9 0 52783 0 52783 52783 N 0 PN 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. Insight Partners XI, L.P. E9 0 3169870 0 3169870 3169870 N 1.5 PN 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. Insight Associates XI, L.P. E9 0 7211566 0 7211566 7211566 N 3.4 PN 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. Insight Associates XI, Ltd. E9 0 7211566 0 7211566 7211566 N 3.4 CO 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. Insight Associates (EU) XI, S.a.r.l. N4 0 411895 0 411895 411895 N 0.2 OO 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. Insight Venture Management, LLC DE 0 123696 0 123696 123696 N 0.1 OO 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. Insight Holdings Group, LLC DE 0 7747157 0 7747157 7747157 N 3.7 OO 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. Real Brokerage Inc 701 Brickell Avenue, 17th Floor, Miami, Florida, 33131 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. 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. See Item 2(a). Y 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. N Y Y Y N 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. Y Y Exhibit 99.1 Joint Filing Agreement, by and among the Reporting Persons (incorporated by reference to Exhibit 99.1 of the Company's Current Report on Schedule 13G filed with the SEC on August 14, 2025). Insight Partners (Cayman) XI, L.P. /s/ Andrew Prodromos 11/13/2025 Insight Partners (Delaware) XI, L.P. /s/ Andrew Prodromos 11/13/2025 Insight Partners (EU) XI, S.C.Sp. /s/ Andrew Prodromos 11/13/2025 Insight Partners XI (Co-Investors) (B), L.P. /s/ Andrew Prodromos 11/13/2025 Insight Partners XI (Co-Investors), L.P. /s/ Andrew Prodromos 11/13/2025 Insight Partners XI, L.P. /s/ Andrew Prodromos 11/13/2025 Insight Associates XI, L.P. /s/ Andrew Prodromos 11/13/2025 Insight Associates XI, Ltd. /s/ Andrew Prodromos 11/13/2025 Insight Associates (EU) XI, S.a.r.l. /s/ Andrew Prodromos 11/13/2025 Insight Venture Management, LLC /s/ Andrew Prodromos 11/13/2025 Insight Holdings Group, LLC /s/ Andrew Prodromos 11/13/2025