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Estately secures $450,000 in funding

Search site powers referrals to other brokers

Estately Inc., a Seattle-based real estate brokerage company that offers a map-based property-search platform, announced that it has received in $450,000 from "a small group of online entrepreneurs." The company, which launched as ShackPrices.com in December 2006, works on a referral basis by connecting consumers with real estate professionals at other brokerage companies. The company charges a 20 percent referral fee. "The new funds will be used to allow Estately to grow into new markets, further expand on Estately's feature base, and build out distribution channels," according to the announcement this week. Galen Ward, Estately co-founder, said he could not reveal the company's specific expansion plans or name the investors who contributed funding. Ward and co-founder Douglas Cole had funded the company since its launch. The site allows users in Washington state to view property information pulled from the Northwest Multiple Listing Service, and search...

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