Orchard launched a new technology platform Tuesday, Orchard Dashboard, which aims to serve consumers throughout the entire real estate transaction, from search to close. The launch of the platform comes just one month after the company raised $69 in Series C equity funding.
Court Cunningham | Photo credit: Orchard
“The traditional way of buying and selling a home has barely evolved over the last 50 years,” Court Cunningham, the CEO and co-founder of Orchard, said in a statement. “The experience is almost entirely offline, requires the customer to coordinate between 5 different parties, and causes unnecessary confusion and stress.”
“We believe customers deserve better. The Orchard Dashboard simplifies the process by providing a transparent, easy-to-use online platform where they can manage their entire experience, and easily get answers for any questions they have along the way.”
On the dashboard, consumers can see contracts and documents and sign them digitally, see real-time feedback on their listings, share listings across social media platforms, access a digital mortgage application through the company’s lending arm, see a personalized timeline and checklist of the entire closing process.
Orchard is both an alternative financing and technology startup, which aims to serve consumers buying and selling a home at the same time. The company operates in essentially three phases: a modern search platform, enabling customers to buy before they sell with a guarantee, and an all-digital close.
Orchard guarantees a home sale in 120 days or they’ll buy your home, and allows consumers to use that offer as capital for their own homebuying.
The company launched a mortgage division in July to integrate into its existing product offering suite for customers both buying and selling a home and has spent the past year bolstering its c-suite.
Cunningham has not been shy about his company’s ambitions, likening the New York City-based startup to both Amazon and Carvana for the real estate industry. To date, Orchard has raised $138 million.
“Homeowners and buyers tell us clearly every day: they want a simpler home purchase and selling experience — like on Amazon or Carvana,” Cunningham said. “As a customer-first technology company, we’re thrilled to be leading the way in the industry to deliver a better solution to the biggest financial decision of people’s lives.”
