On the heels of our first-ever Agent Appreciation month, Inman is leaping into February with our Residential Finance theme month. Join us as we investigate how buying and selling a home is changing, from companies backing consumers in new ways to integrated services that handle the entire transaction.
HouseCanary, a real estate valuation startup that also once ran a portal-like website, announced Thursday that it has raised $65 million in its latest funding round.
HouseCanary’s CEO and co-founder Jeremy Sicklick explained in a blog post Thursday that the cash, from a Series C funding round, “will allow us to continue to build the most accurate valuations in the housing market.” The company will also use the money to grow its team and invest in technology, among other things.
Sicklick and Chris Stroud founded San Francisco-based HouseCanary in 2013. In his blog post, Sicklick said the goal was “to create a company that produced the most accurate and trusted home valuations in the industry.”
The company went on to build appraisal tools, and by January 2019 had a Zillow-like portal for consumers called ComeHome. However, HouseCanary deactivated all the listings on the portal soon after it launched when questions arose over how it was getting multiple listing service data.
In October, HouseCanary revived ComeHome as a product for mortgage lenders.
Today, the company describes itself as a “valuation-focused” firm that “provides software and services to reshape the real estate marketplace,” according to a statement Thursday. The statement adds that HouseCanary also “doubled revenue in each of the last two years and its pace of growth is accelerating for 2020.”
Sicklick added in his blog post that HouseCanary, “powers over $200 million in real estate transactions each month by working with institutional investors.”
HouseCanary did not immediately respond to Inman’s request for comment Thursday. However, Sicklick argued in the blog post that “over the next few years, HouseCanary will be uniquely positioned to connect investors and consumers alike.
Morpheus Ventures led the company’s latest funding round, with additional participation from Alpha Edison and PSP Growth. In total, HouseCanary has now raised $130 million across multiple funding rounds, Thursday’s statement explains.
Joseph Miller, a managing partner at Morpheus, praised HouseCanary in a statement Thursday, saying his firm invests “in disruptive companies that are innovative and creative in how they tackle the changing landscape.”
“Through their proven software and data driven technology,” Miller added, “HouseCanary is streamlining real estate transactions and changing the future of the industry.”