In 2013, when I founded HouseCanary with my co-founder Chris Stroud, we had a simple vision: create a company that produced the most accurate and trusted home valuations in the industry. Our belief, which holds true today, is that aligning everyone — consumers, investors, lenders, capital markets — on a single trusted value is the key to streamlining every residential real estate transaction. From my experience during the downturn, I witnessed firsthand how a lack of trusted information on property values and market conditions wreaked havoc on the housing industry. I knew there had to be a better way to create transparency around an asset class that’s larger than our stock market.
Accurate home valuations were just the beginning. We knew that revolutionizing the housing finance industry would require building a more trusted and efficient real estate marketplace. A marketplace in which trusted property valuations paired with unparalleled customer experiences would help consumers and investors enjoy a frictionless, more delightful experience when buying, financing, and improving their homes.
Today we’re excited to announce that we have closed a $65 million growth funding round that will allow us to continue to build the most accurate valuations in the housing market, continue to build our world-class team to accelerate development and adoption of HouseCanary, and invest in leading-edge technology that will enable a frictionless real estate transaction. The funding brings HouseCanary’s total funding to $130 million.
HouseCanary powers over $200 million in real estate transactions each month by working with institutional investors. Through our partnerships with leading financial institutions, HouseCanary will also help consumers drive more than $100 billion of real estate transactions this year.
Over the next few years, HouseCanary will be uniquely positioned to connect investors and consumers alike by combining our exceptional analytics on the $30.7 trillion residential real estate market — built on big data and refined through machine learning — with our nationwide real estate brokerage.
Today, seven of the top ten buyers of residential real estate loans, seven of the top ten bulge bracket investment banks, and four of the top five single family rental investor owner operators trust HouseCanary. We are fortunate to partner with all of our clients and look forward to the next chapter in our shared success.