Real estate data and analytics company HouseCanary has secured $33m in a Series A funding round.
The investors include Alphabet executive chairman Eric Schmidt’s family office Hillspire, Alpha Edison, ECA Ventures and Raven Ventures.
The San Francisco-based firm aims to utilise data science and analytics to more accurately value and forecast more properties.
HouseCanary CEO and co-founder said: “We are on a mission to help people make better real estate decisions.
“We want to do for residential real estate what Bloomberg did for financial services – build a platform that will be a beacon of accuracy and transparency, enabling greater speed and confidence in residential real estate transactions.”
The company claims to value and forecast more than 18,000 residential markets across the US and 100m individual properties.
Its clients include institutional investors looking to add property to their portfolios, lenders searching for mortgage prospects and real estate brokerages aiming to build advisory relationships with their clients.
HouseCanary says it counts Blackstone Invitation Homes, Sotheby’s International Realty and the top three mortgage lenders among its analytical product’s clients.
ECA Ventures chairman Mark Dyne said: “People are incredibly frustrated with not being able to price homes correctly.
“HouseCanary will enable investors, lenders, realtors and even homeowners to understand everything there is to know about a property and make investment decisions in seconds – and at a fraction of the cost. This company has all the ingredients to disrupt a multi-trillion-dollar asset class.”
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