Led by Lux Capital with participation from
leading real estate operators and investors
NEW
YORK, July 30, 2024 /PRNewswire/ -- Perchwell,
the modern data and workflow platform for residential real estate,
today announced its $25 million
Series B financing. Lux Capital, who participated in the company's
Series A, is leading the funding and is joined by a group of
strategic real estate and financial investors including Starwood
Capital Group, Flex Capital, Stellar MLS, REcolorado MLS, and
California Regional MLS (CRMLS). The capital influx will accelerate
delivering best-in-class software to MLSs and brokerages in
New York City and nationwide.
Among other features, Perchwell's product development will focus on
AI related to data and workflow enhancements that empower real
estate professionals to enhance their services and generate more
revenue.
"At Perchwell, we are elevating the way real estate agents
convey value to their clients," noted Brendan Fairbanks, CEO of Perchwell. "We
provide agents with powerful property-centric data in web and
mobile platforms under a single seamless solution, empowering them
to deliver accurate, precise guidance at a moment's
notice."
As the real estate industry undergoes significant change and the
value of agent services remains under a critical spotlight, MLSs
and brokerages are demanding cutting-edge technology and data
solutions to better serve homebuyers and sellers. Perchwell offers
the modern end-to-end solution, streamlining workflows and
providing professionals with state-of-the-art tooling to compete in
this evolving landscape. The platform puts the MLS at the center of
a modern tech ecosystem and features listing data enriched with
supplemental data sets, plug-and-play APIs, powerful market
analytics, and comprehensive mobile apps designed to help agents
thrive in today's ever-demanding environment.
"While other industries rely on integrated software tools to
manage their work, real estate professionals still spend much of
their time shuffling between disjointed MLS data repositories,
search portals, and various other point solutions," says Peter
Hébert, Co-founder and Managing Partner at Lux Capital, who will be
joining Perchwell's board of directors. "Perchwell is setting
the new industry standard by bringing all that tooling into a
complete and modern software platform. Agents nationwide have come
to trust Perchwell to provide an indispensable competitive
advantage in today's dynamic real estate market."
Merri Jo Cowen, CEO of Stellar
MLS, one of the largest MLSs in the U.S. with more than 84,000
customers, commented, "Perchwell is enriching the MLS user
experience, and advancing the core values of the MLS, giving agents
a new edge to showcase their value. We are honored to be investors
in Perchwell, knowing that the ongoing evolution of superior MLS
systems/services fits with our commitment to bring success to
brokers and agents."
"This financing will add fuel and speed to our expansion and
broaden features of our platform, empowering agents as trusted
advisors to their homebuyers and sellers," said Fairbanks. "We are
grateful for the support of Lux, our MLS partners, and all Series B
investors."
About Perchwell:
Perchwell is the modern data and
workflow technology platform for the residential real estate
industry. Perchwell's product offering includes a suite of data
management, market research, and client collaboration tools for
MLSs, brokers, and agents. For more information, please visit
perchwell.com.
Media Contact
Christine Jacobson
LCLC Consulting
christine@lclcconsulting.com
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SOURCE Perchwell