Homesnap picks up $14m in Series B round led by Updata

PropTech platform Homesnap has closed a $14m Series B funding round led by Updata Partners.

Other participants to the round included Moderne Ventures and individual investors.

Maryland-based Homesnap is a mobile platform for agents and brokers to increase revenue and simplify listings. The app connects buyers and sellers with the best agent for them and provide them with real-time data on properties.

The platform is powered by home databases compiled of MLS data, property tax records, census data, and geographic boundaries among other information.

Last year the company recorded a 250 per cent revenue growth year-over-year, and now has 71 per cent of the country agents using the app, according to the company.

This capital injection will be used to support the development of new tools which will allow agents to increase productivity and automate digital marketing.

Moderne Ventures Constance Freedman said, ?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 weve 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.p>

With this investment, total funding by the company has reached $32m.

This is the seventh PropTech platform to raise funding this month, with this week alone seeing Properati bag funding from Big Data Scoring and Honest Buildings close an additional Series B investment.

Last year, the North American real estate sector saw $1.3bn deployed, making it the fifth most funded space in the countries FinTech sector.

Copyright ? 2018 FinTech Global

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