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An online homebuying solution, DwellWell, has secured $4.5 million in seed financing to augment the national roll-out of its buyer-centric agent matching technology.
The round was led by MaC Venture Capital with participation from Anthemis Group, according to the company’s Nov. 3 announcement.
Matt Canzoneri, CEO of Los Angeles-based DwellWell, said in a statement that the past two years have made it tough to keep pace with the market while building a new technology company.
“I am so proud of how our team built this business,” he said. “This round gives us the resources we need to bring every homebuyer in the country the empowered, streamlined and enjoyable homebuying experience they deserve.”
The company’s software onboards aspiring homeowners by helping them pre-qualify for a mortgage while educating them on the economic basics of buying a home. It assists in search, as well, helping users discover listings in their region that overlap with their budget needs and wants. Its algorithm then seeks nearby, DwellWell-registered agents for buyers to interview.
Buyers and agents communicate through a central, educational interface as the relationship progresses, and buyers can save, rank and add notes about possible homes as they learn about the terms, processes and best practices of home buying.
The company looks to vet agents as well as it does buyers, seeking those who are tech-forward and able to provide as frictionless an experience as possible.
“We really nail matching buyers with the best agents and proptech solutions, which pays huge dividends in a successful and happy buying experience,” Canzoneri said.
Like all proptech solutions, DwellWell’s ultimate intent is to remove traditional redundancies and use software to shrink the transaction. It’s take starts at the top of the transaction.
In conjunction with landing its seed round, DwellWell announced DwellWell Community, “a first-of-its-kind online network for homebuyers, tech-enabled real estate agents, and other experts to connect and learn from one another,” it stated.
Buyers can leverage the Community’s compendium of resources on homebuying. Topics include mortgage, inspections, budgeting and other aspects of the transaction to help them, and their agents, ensure a surprise-free transaction.
The company sees the market’s recent tilt toward buyers as serendipitous.
“DwellWell’s emphasis on the buyer, rather than the seller, fits ideally in today’s market, positioning the company for continued and rapid growth,” the company said.