Funding round values INRIX, provider of search-by-commute tool, at $550 million

INRIX, the developer of a listing search tool that lets homebuyers filter properties based on commute time, has sold a 10 percent stake to the Porsche family for $55 million in a funding round that values the Kirkland, Washington-based company at about $550 million, Bloomberg News reports. Real estate franchisors Berkshire Hathaway HomeServices and Re/Max have licensed INRIX’s Drive Time tool, and multiple listing service platform provider CoreLogic signed a deal in November to make the tool available to MLSs. Source: bloomberg.com.