Reali Lands $20 Million Series B Funding to Build AI-Powered Real Estate Transaction Platform
Funding Will Accelerate Market Expansion & Development of Disruptive Real Estate Tools for Buyers and Sellers
Reali, a real estate technology company transforming home-buying and selling, has raised $20 million in Series B funding led by Zeev Ventures, with participation from Signia Venture Partners and other investors, bringing the total raised to date to $30 million. Reali's new round of capital will drive expansion to all of California, with the launch of Southern California and additional states in 2018 and 2019. The company will also expand its product development efforts in artificial intelligence; double its headcount and build out its customer-centric model.
Today's home buyers and sellers have more market knowledge than ever, and yet the business of buying and selling a home is still very antiquated in many ways. The traditional real estate model is broken. Reali is building a real estate transaction platform to empower decision-making with technology. The entire process is designed to be fully transparent and disrupt the current agent commission model.
"From the beginning, our mission was to build a digital-first real estate company with a completely different experience that delights home buyers and sellers and saves them thousands in commission fees," said Reali CEO and co-founder Amit Haller. "This new funding will allow us to accelerate our product roadmap beyond the app and expand our market base to new cities throughout the U.S."
Reali's new AI team will focus on a suite of products fusing human and artificial intelligence with smart workflow optimization. Reali's new data-driven tools will help its buyers and sellers make personalized decisions, such as determining offer prices, using augmented reality to tour a home, and understanding the optimal listing price of a home.
"As a tech innovator, Reali is ideally positioned to build the leading AI-powered transaction platform for home buyers and sellers," said Oren Zeev, Founding Partner of Zeev Ventures who serves or has served as a board member in companies such as Houzz, Audible,Chegg and HomeLight.
The Reali team is addressing some of the industry's biggest challenges–including lack of tech services and transparency, and inflated commissions. This funding is designed to bring the company's tech-driven model to more people.
-Oren Zeev, Founding Partner of Zeev Ventures
Reali operates at the intersection of the $31 trillion U.S. housing market and the technology sector. Since launching in 2016, Reali has experienced rapid growth, operating in the San Francisco Bay Area and Sacramento. Buyers and sellers who work with Reali enjoy a seamless app experience while working with fully-licensed in-house Reali Experts. In the past six months, Reali has tripled its number of home listings and doubled sales volume and app downloads.
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