FinTech: Real Estate Analytics Startup HouseCanary Raises $65 Million
The funding will allow HouseCanary to develop the most accurate valuations in the property sector.
San Francisco-based HouseCanary, a developer of real estate analytics solutions, raised $65 million in a Series C growth funding round. (CrowdFundInsider)
The round was led by Morpheus Ventures, Alpha Edison, and PSP Growth, and it brought HouseCanary’s aggregate funding to $130 million.
In 2017, HouseCanary raised $65 million in two funding rounds.
The fintech is developing real estate analytics that also provides the most accurate residential property valuations. It does this by combining the technologies of big data and machine learning with its nation-wide brokerage.
The fintech’s mission is to modernize the home buying and homeownership process in the $30.7 trillion residential real estate market.
The 2013-founded HouseCanary has doubled revenue in each of the last two years. Further, during 2020, its rate of growth is trending even higher.
It powers more than $200 million in real estate transactions per month through institutional investors.
“Seven of the top ten buyers of residential real estate loans, seven of the top ten bulge bracket investment banks, and four of the top five single-family rental investor owner-operators trust HouseCanary,” the firm said in a statement.
Moreover, it estimates that it will close on more than $100 billion of real estate transactions this year.
“Reliably automating home valuations replaces a two- to three-week human appraisal process with instant, actionable valuations at a fraction of the price,” said Co-Founder and CEO Jeremy Sicklick. “Consumers and institutional investors buying homes as well as financial institutions providing mortgages demand this, and we power it across America’s housing market.”
Related Story: Tim Melvin: Expectations for REITs in 2020
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