PropTech platform Movoto.com has raised $8m in funding, with global real estate company Mitsui Fudosan becoming a minority stakeholder of the business.
With the capital injection, Movoto will increase focus on its platform development efforts and the growth of the company.
Founded in 2005, Movoto is an end-to-end platform for connecting consumers and agents and boasts around 18 million monthly property searches. Through the platform consumers can find, sell and research properties across the US.
The funding has come after a strong period of growth for Movoto which has seen the number of property searches on its platform grow by 70% year-over-year
“We have been looking at new platforms for the real estate industry for quite some time. We were extremely impressed by the AI-enabled, end-to-end platform that Movoto has matured over the years to provide for consumers and agents to collaborate so that agents can provide excellent service to consumers,” said Daisuke Yamashita, General Manager of Mitsui Fudosan.
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