zavvie bags $3.65m to support real estate brokerages

zavvie-software-technology-company-raises-$3.65m-for real-estate-brokerages

zavvie, a software technology company providing real estate brokerages customised marketplaces for buying and selling solutions, has raised $3.65m in funding.

The round was led by existing investors, including Second Century Ventures, the startup incubator backed by the National Association of Realtors.

The funds include $1.5m in cash and $2.15m in convertibles.

zavvie also announced that Tyler Thompson, Managing Partner at Second Century Ventures, is joining its board of directors. Thompson brings more than 15 years of strategic, startup and operational experience to the zavvie Board.

Lane Hornung, zavvie CEO and co-founder, said, “At zavvie, we believe 2023 will be a breakout year for Power Buying because cash offers will particularly help first-time buyers. Also poised for explosive growth are two more categories: Listing Concierge or presale renovations, which help consumers sell their homes faster and at a higher sales price, and Homeownership Accelerators.

“Most renters still want to buy a home, and with a Homeownership Accelerator program, they can rent their starter home today and own it tomorrow.”

Hornung also noted that the massive shift in buyer and seller behaviours in 2022 benefited zavvie’s business momentum and growth. zavvie increased its total number of brokerage-assisted transactions by more than 400 percent over 2021 transactions, and grew its revenue by more than three times, year-over-year.

Hornung also notes that the recent launch of zavvie 2.0 software with its updated dashboard is helping agents streamline assisting their clients, and driving new business because of increased efficiency. He adds, “zavvie 2.0 sets the stage for incredible new software we will launch in 2023.”

Last year, Tellus, which stylises itself as a smart savings platform powered by real estate, closed its seed funding round on $16m. Founded in 2016, Tellus was built to help more people and families have better control of their personal finances and address the widening wealth gap.

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