Technology

Early Twitter investor makes first foray into real estate tech

Spark Capital takes stake in Brazilian listing portal VivaReal

Brazilian listing portal VivaReal has landed more than $40 million in a Series C funding round led by an early investor in a number of successful startups, underlining appetite for real estate tech companies outside the U.S. Boston-based Spark Capital, which was an early backer of Twitter, Tumblr and Oculus VR, threw its weight behind VivaReal because it's "a player that seems well-placed to be a leader in an attractive category and a build a valuable strategy," said Jeremy Philips, general partner of Spark's growth fund. The raise marks Spark Capital's first foray into real estate. Philips said real estate is an "extremely attractive market opportunity," particularly outside the U.S. where multiple listing services don't exist and therefore cannot contribute to a "fragmented market." Jeremy Philips VivaReal is a leader in the Brazilian portal space, boasting over 2.5 million real estate listings and 8 million visits every month through its website and mobile...