Technology

SmartZip raises $12 million to spur growth

Firm will use funds for tools that help agents get more business from people they know
  • SmartZip has raised $12 million in debt financing from Orix Growth Capital and existing investors.
  • The predictive marketing company plans to use the funds for "continued growth and diversification."
  • This includes supporting its newest products, which help agents and lenders target homeowners among their contacts who are most likely to sell soon.

Real estate agents are continually exhorted to stay "top of mind" with the people they know and the people in the geographic area in which they work. But that's a lot of people. How do agents know precisely which ones to reach out to? SmartZip's answer to that question is to plug dozens of data variables into its predictive marketing platform to tell agents which homeowners are most likely to sell at any given time. And the company just raised $12 million in debt financing to ramp up that platform and help agents get more repeat and referral business from their personal network. Who participated in the funding? The funding round was led by Orix Growth Capital, a "growth finance company that provides debt and equity capital to high-growth, venture-backed companies," according to its website. "There is perhaps no greater need for actionable predictive analytics than in the real estate and lending industries, where high-touch relationships and long transaction cycles requir...

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