Indigo, an AI-based platform for home negotiations, announced it secured $8 million to offer insight, collaboration, and transparency to real estate teams, buyers, and sellers nationally. The seed funding round was led by Pete Flint at NFX, Clelia Warburg Peters at Era Ventures, and Paul Irving at GTM Fund. They were joined by 1Sharpe Ventures and Jake Seid. In the three months following the launch, Indigo experienced tremendous growth, exceeding 20% market share of home offers in its initial markets.
Even though innovation has taken place in how people search for homes, little has changed in how people navigate the home offer and negotiation process. The negotiation process is the centerpiece of any successful home transaction and is essential in winning or losing a home. How to craft, negotiate, and manage offers continues to be the main reason buyers and sellers choose their real estate agent. However, the massive home offer market is a manual and disjointed process surrounding complex legal documents and limited information sources, costing enormous amounts of time and frustration.
Indigo unifies the negotiation experience through real-time offer insights, bringing unparalleled speed and competitiveness to real estate agents, buyers, and sellers. Indigo unlocks insights from real estate contracts to infuse data into every step of the home negotiation – from introduction to close – enabling all parties with the information they deserve to make life’s most important purchase.
Indigo’s Home Checkout is a collaborative experience with insights built directly into the workflows to design, submit, receive, and negotiate offers in one place. And by helping agents and consumers automate tedious administrative overhead, Indigo saves time and brings visibility, clarity and simplicity to the process.
Indigo creates a win-win outcome for buyers, sellers, and agents by providing tangible data and suggestions that can increase offer acceptance and closing rates while saving countless hours of transaction management. Indigo’s team has increased offer accept rates by 35% and improved on-time closings by 40%.
Indigo was founded by Shaival Shah, Wei Gan, Paul Kim, and Frances Bryant. And the founding team previously established Ribbon, the market’s first all-cash offers platform that facilitated over $20 billion in offers annually. Plus, the team is utilizing their experience in designing home offers to help real estate professionals and consumers with the technology and tools to bring transparency and ease to the real estate market.
KEY QUOTES:
“Homebuyers, home sellers, and agents face mounting challenges today with affordability, limited housing inventory, complex negotiations, and navigating new commission structures.”
“By delivering a collaborative and streamlined experience, we empower all members of the transaction with the tools and context to balance what’s winning in the market, the means of the buyer, and the needs of the seller. We provide transparency into the transaction and help agents show their negotiating value. We are thrilled to partner with our investors to power the future of home negotiations together”.
- Shaival Shah, Co-Founder and CEO of Indigo
“We were drawn to Indigo’s vision that the market is shifting from a search-centric to transaction-centric model. Indigo is on the bleeding edge of that transformation, leveraging proprietary AI to create a magical home transaction experience for everyone. We are thrilled to back the Indigo team and their deep domain expertise.”
- Pete Flint, General Partner at NFX
“On the heels of major industry changes, greater transparency around the home transaction has become vital. The home offer process is the fulcrum of home buying, yet it remains opaque and inefficient.” said Clelia Warburg Peters, Managing Partner at Era Ventures.”
“I am confident that Indigo will pave the way for a smarter, more transparent future. This kind of innovation empowers every member of the home transaction experience and has the power to transform markets.”
- Clelia Warburg Peters, Managing Partner at Era Ventures
