Homesnap has raised a $14 million Series B investment round led by Updata Partners, with participation from Moderne Ventures and individual investors.
This announcement follows a year of record growth in which we grew revenue 250% year-over-year and now have 71% of the nation’s agents accessing Homesnap Pro, the professional version of our mobile software. The new investment brings the total capital raised to over $32 million, including investor Revolution Ventures, the venture capital fund founded by AOL co-founder Steve Case, Tige Savage and David Golden.
Here’s what our CEO John Mazur had to say:
“Homesnap has been endorsed by the industry, and, thanks to its national footprint, powerful software and strong relationships with agents, brokers and MLSs, has become a force to contend with. This new funding will allow us to accelerate our mission to create the best software for agents to succeed in a mobile-centric world. Our goal is for every agent – and their clients – to use Homesnap every day to do their jobs better, and this funding will make that goal a reality.”
And some comments from our investors Carter Griffin and Constance Freedman:
“Demand for verticalized software solutions continues to increase and Homesnap equips agents with the most effective solution in real estate we have seen to date,” said Carter Griffin, General Partner at Updata. “Homesnap pioneered mobile solutions for agents, and Updata is excited to support its continued expansion.”
“We look at over 4,500 real estate related technology companies every year, and Homesnap has created a value proposition for the industry that outshines almost everything else we’ve seen. It provides a fully integrated mobile platform for agents, teams and brokers to provide the experience that their clients are demanding and integrates with other providers and solutions throughout the lifecycle of a real estate transaction,” said Constance Freedman of Moderne Ventures. “Homesnap has a remarkable product that was built with the best interests of agents, brokers and our industry in mind. This has made all the difference in driving adoption of Homesnap across the country. We are thrilled to support its continued growth.”
We will use the new funding to develop new premium tools to allow agents to further increase productivity in the field and to power automated digital marketing for agents and brokerages.
Homesnap is the technology powering the Broker Public Portal, a national home search platform launched by brokers and multiple listing services (MLSs) around the country. When consumers click on homes they see on Homesnap, they are sent directly to the listing agent for that home, rather than to an agent who has paid to advertise on that listing. More than 120 MLSs across the country, representing over 800,000 real estate agents, are sharing their listings on Homesnap, ensuring that listing agents receive all leads from their listings, for free, and that consumers are connected directly to the listing agent for any given property.