- Home valuation fintech company HouseCanary announced it has closed $65 million in growth funding. And the company is now seeing $200 million in real estate transactions every month.
Home valuation fintech company HouseCanary announced it has closed $65 million in growth funding led by Morpheus Ventures, Alpha Edison, and PSP Growth. This round of funding brings HouseCanary’s total funding to $130 million.
Ever since HouseCanary launched in 2013, the company has created the most accurate residential real estate valuations with a 2.5% median absolute percentage error for 106 million US residential properties nationwide. And by focusing on helping its customers grow and scale their businesses, HouseCanary doubled revenue in each of the last two years and its pace of growth is accelerating for 2020.
Now 7 out of the top 10 buyers of residential real estate loans, 7 of the top 10 bulge bracket investment banks, and 4 of the top 5 single-family rental investor owner-operators trust HouseCanary.
“This latest round of funding will allow HouseCanary to continue to build the most accurate valuations in the housing market, continue to build our world-class team to accelerate development and broad market adoption of HouseCanary, and invest in our leading-edge technology,” said HouseCanary co-founder and CEO Jeremy Sicklick. “Reliably automating home valuations replaces a two- to three-week human appraisal process with instant, actionable valuations at a fraction of the price. Consumers and institutional investors buying homes as well as financial institutions providing mortgages demand this, and we power it across America’s housing market.”
HouseCanary — which works directly with institutional investors — already powers over $200 million in real estate transactions every month. And with partnerships with leading financial institutions, HouseCanary’s ComeHome platform is enabling consumers to close on more than $100 billion of real estate transactions this year.
“We invest in disruptive companies that are innovative and creative in how they tackle the changing landscape,” added Morpheus Ventures managing partner Joseph Miller, Managing Partner, Morpheus. “Through their proven software and data-driven technology HouseCanary is streamlining real estate transactions and changing the future of the industry.”
