Technology

HouseCanary, a real estate valuation provider, raises $33 million

The family investment office of Alphabet chairman Eric Schmidt participated in the funding round

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Ten years after the Zestimate's debut, you might expect online home valuations to have become about as accurate as they can be. But real estate analytics company HouseCanary shows that industry observers think there's still room for improvement. HouseCanary recently bagged $33 million in a Series A funding round that included participation from the family investment office of Eric Schmidt, the executive chairman of Google parent company Alphabet, Alpha Edison, ECA Ventures and Raven Ventures. The startup claims to have the "most accurate valuations available online." It can value and forecast over 100 million properties in 18,000 U.S. residential markets, using a massive data set, predictive analytics and intuitive visualization tools, the company said in a press release. Customers include Sotheby's International Realty, national brokerage Movoto and Blackstone's Invitation Homes, which operates about 50,000 single-family rental properties. “We want to do...