- Workflow tech company Perchwell announced it raised $15 million. These are the details.
Perchwell — a premier data and workflow platform for the residential real estate industry — recently announced a $15 million Series A funding round led by Founders Fund. And additional investors in the round include Lux Capital, Matterport, and California Regional MLS, the largest MLS in the United States. Perchwell plans to use the funds to expand its product and engineering teams, and to drive expansion into geographies beyond its home market of New York City.
As real estate is evolving at an increasingly fast pace, agents are demanding innovative tools to better serve their clients and build their businesses. And Perchwell’s data and technology platform empower agents with the tools they need to thrive in today’s market. Perchwell first launched in NYC and quickly became the technology platform of choice among the city’s top local and national brokerages including Sotheby’s International Realty, Berkshire Hathaway HomeServices, and Serhant.
Perchwell was subsequently selected by the Real Estate Board of New York (REBNY) to operate its Residential Listing Service, which is NYC’s de facto MLS. And Perchwell is now expanding its MLS and brokerage product offerings into new geographies amid significant customer demand.
Perchwell’s end-to-end platform not only streamlines agents’ day-to-day workflows but also facilitates interoperability among other technology products via API. And Perchwell’s focus on interoperability is a major differentiator relative to the monolithic, closed systems that have proliferated in the past.
KEY QUOTES:
“Perchwell is bringing real estate into the twenty-first century. Brendan and his team are delivering much-needed innovation in real estate technology. They’ve proven themselves in the competitive New York market and we’re looking forward to their rapid expansion to even more markets.”
— Keith Rabois, General Partner at Founders Fund
“We are thrilled to have the support of such talented investors and operators as we enter our next phase of growth. It is critical that agents have the technology they need to compete in today’s market and we are excited to bring Perchwell to agents everywhere.”
— Brendan Fairbanks, founder and CEO of Perchwell
“Perchwell has come at real estate’s technology problems from an entirely new angle and is doing something new to solve them. Perchwell will be an important partner of ours and will play a major role in shaping the industry’s technology ecosystem more broadly. We are excited to work together in building the technology that our agents need.”
— Art Carter, CEO of California Regional MLS, the largest in the country
“Real estate is the world’s largest asset class, and the industry is in the early innings of a complete digital transformation. We believe Perchwell and its interoperable technology platform will lead that transition for the residential market.”
— Peter Hebert, Co-Founder and Managing Partner of Lux Capital
