Perch raises $30m in Series A led by FirstMark

Online property marketplace Perch has raised $30m in its Series A round led by FirstMark Capital.

Juxtapose and Accomplice also participated to the investment. As part of the transaction FirstMark Capital founder and managing director Rick Heitzmann will join Perch’s board of directors.

New York-headquartered Perch is an online marketplace for buying and selling homes. Through data science technology the platform gives sellers a market price offer within 24 hours and without the need of home showings, repairs or contingent offers.

Buyers can access a selection of certified pre-owned houses to help speed up searching and the sale process.

Capital from the round will be used to scale the company’s platform and product development around automating access to related transactions for home closing and mortgages. The company launched its services in San Antonio, Texas and hopes to expand to new cities during the year.

Perch CEO Court Cunningham said, “Innovating on the home sale process is where we are starting, but it’s not where we finish.

“We believe that the way to truly transform residential real estate is by building a superior selling and buying experience – by becoming a marketplace for homes. For home sellers, we provide a seamless sale experience by removing the uncertainty and inconvenience. For buyers, we’re pioneering a new category of homes: Certified Pre-Owned; all Perch homes are move-in ready and include a warranty.

FirstMark Capital has already completed a couple of deals in the FinTech space this year. The firm recently led the $40m Series D funding round into HR and payroll company Justworks. The company provides a single, compliant solution for HR, payments, and benefits, and will use the capital to increase market expansion.

The firm’s other investment this year was a contribution to crypto wallet Ledger’s $75m Series B round. The investment was led by Draper Espirit and was raised to support its R&D and scale its global operations.

Copyright © 2018 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.