Rockville, MD, Feb. 13, 2018 (GLOBE NEWSWIRE) — Homesnap, a real estate technology company that provides the highest-rated and most-installed mobile productivity app and marketing platform for real estate brokers, agents and clients, announced today that it has raised a $14 million Series B investment round led by Updata Partners, with participation from Moderne Ventures and individual investors.
This announcement follows a year of record growth in which the company grew revenue 250% year-over-year and now has 71% of the nation’s agents accessing Homesnap Pro, the professional version of its mobile software. The new investment brings the total capital raised by Homesnap to over $32 million, which includes investor Revolution, the venture capital fund founded by AOL co-founder Steve Case, Tige Savage and David Golden.
Homesnap Pro makes agents more productive, brings in more revenue for brokers, and allows real estate professionals to market themselves and their listings automatically and seamlessly within the app. It has transformed the way the industry works by making information, marketing and communication available entirely via a mobile-first platform.
“Homesnap has been endorsed by the industry, and, thanks to its national footprint, powerful software and strong relationships with agents, brokers and MLSs, has become a force to contend with. This new funding will allow us to accelerate our mission to create the best software for agents to succeed in a mobile-centric world,” said Homesnap CEO John Mazur. “Our goal is for every agent – and their clients – to use Homesnap every day to do their jobs better, and this funding will make that goal a reality.”
“Demand for verticalized software solutions continues to increase and Homesnap equips agents with the most effective solution in real estate we have seen to date,” said Carter Griffin, General Partner at Updata. “Homesnap pioneered mobile solutions for agents, and Updata is excited to support its continued expansion.”
“We look at over 4,500 real estate related technology companies every year, and Homesnap has created a value proposition for the industry that outshines almost everything else we’ve seen. It provides a fully integrated mobile platform for agents, teams and brokers to provide the experience that their clients are demanding and integrates with other providers and solutions throughout the lifecycle of a real estate transaction,” said Constance Freedman of Moderne Ventures. “Homesnap has a remarkable product that was built with the best interests of agents, brokers and our industry in mind. This has made all the difference in driving adoption of Homesnap across the country. We are thrilled to support its continued growth.”
The new funding will support development of new premium tools to allow agents to further increase productivity in the field and to power automated digital marketing for agents and brokerages. Homesnap also provides powerful recruiting and retention tools – all online and all mobile. Homesnap is the technology powering the Broker Public Portal, a national home search platform launched by brokers and multiple listing services (MLSs) around the country. When consumers click on homes they see on Homesnap, they are sent directly to the listing agent for that home, rather than to an agent who has paid to advertise on that listing. More than 125 MLSs across the country, representing over 800,000 real estate agents, are sharing their listings on Homesnap, ensuring that listing agents receive all leads from their listings, for free, and that consumers are connected directly to the listing agent for any given property.
Homesnap is the fastest-growing mobile platform for agents and brokerages – now available to every agent in more than 125 MLSs representing over 800,000 agents. Homesnap is the highest-rated and most installed mobile real estate app, powered by a specialized homes database that combines MLS data, property tax records, census data, geographic boundaries and more. Homesnap is also the public-facing brand of the Broker Public Portal, a collaborative venture between real estate brokerages and MLSs to create a national consumer home search experience defined by simplicity, integrity and usability. The portal aims to provide consumers with direct access to the most comprehensive, timely, and complete property information while adhering to fair display guidelines. More information can be found at http://homesnap.com and http://homesnap.com/bpp.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/6be85f91-ea51-4cf5-b955-b16ebd57c1da
CONTACT: Gayle Weiswasser Homesnap 202-271-3914 firstname.lastname@example.org