Technology

Updater, NAR-backed app, closes $8M funding round

Company is a graduate of the trade group's startup incubator, 'REach'
Published on Apr 8, 2014

Updater, an address-change app for relocating consumers that can also serve as a marketing tool for real estate professionals, has closed an $8 million funding round that includes a commitment from Second Century Ventures, the National Association of Realtors’ venture capital fund.The Series A round also included investments from SoftBank Capital, IA Ventures and Commerce Ventures, according to Updater.Updater offers a platform that lets users seamlessly update their addresses on over 10,000 accounts and subscriptions, file their official U.S. Postal Service mail-forwarding form and transfer and connect utilities among other address-change tasks.The app generates revenue by wrapping its service into a marketing product that it sells to real estate brokerages and sales agents, mortgage professionals, moving companies, and property managers.For $149 a year, an agent may send an unlimited number of clients emails inviting them to use a version of Updater that's branded w...

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