Seattle-based financial services company Plunk has concluded a $6.5m seed round led by Unlock Venture Partners.
The round also included participation from Sony Innovation Fund, Vectr Fintech Partners, Second Century Ventures and Plug and Play Ventures.
Established in 2019, Plunk markets a mobile app that uses AI and machine learning to help homeowners see the possible worth of renovation.
The app provides homeowners with a real-time valuation of their home and then later provides Plunk users with suggestions for remodelling projects that will have the most impact on home value.
Following this, owners can then decide to go with the suggestions and apply for a loan. From here, they can get connected with a contractor through the platform.
According to Andy Liu – co-founding partner of Unlock – Plunk and Plunk-like companies will become more common, stating that “knowing what your home will be worth before you remodel will become the new normal”.
In November last year, Plunk raised $1m from another seed funding round. Prior to that, the company raised the same amount in July 2019.
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