San Francisco-based HouseCanary Raises USD 65 Million to Expand its Hold in the Housing Market

San Francisco-based HouseCanary Raises USD 65 Million to Expand its Hold in the Housing Market

Working directly with institutional investors, HouseCanary powers over USD 200 million in real estate transactions each month. By leveraging its partnership with leading financial institutions, the company's ComeHome platform will enable consumers to close down on over USD 100 billion of real estate transactions this year

Fremont, CA: Home valuation fintech firm HouseCanary raised USD 65 million in its growth round led by Morpheus Ventures, Alpha Edison, and PSP Growth. The new funds take the company's total raised capital to USD 130 million. Since its inception in 2013, HouseCanary created the most accurate residential real estate valuations, with a 2.5% median absolute percentage error for 106 million US residential properties nationwide. Its focus on helping customers grow and scale their businesses has helped the company to double its revenue in each of the last two years, while also accelerating its growth for 2020. Currently, seven of the top ten buyers of residential real estate loans and four of the top five single-family rental investor owner-operators trust HouseCanary.

"This latest round of funding will allow HouseCanary to continue to build the most accurate valuations in the housing market, continue to build our world-class team to accelerate development and broad market adoption of HouseCanary, and invest in our leading-edge technology," said HouseCanary Co-Founder and CEO Jeremy Sicklick. "Reliably automating home valuations replaces a two- to three-week human appraisal process with instant, actionable valuations at a fraction of the price. Consumers and institutional investors buying homes as well as financial institutions providing mortgages demand this, and we power it across America's housing market."

The company aims at creating a more efficient real estate marketplace where its trusted property valuations allow consumers and investors to enjoy a frictionless experience in buying, financing, and improving their homes. Working directly with institutional investors, HouseCanary powers over USD 200 million in real estate transactions each month. By leveraging its partnership with leading financial institutions, the company's ComeHome platform will enable consumers to close down on over USD 100 billion of real estate transactions this year.

"We invest in disruptive companies that are innovative and creative in how they tackle the changing landscape," said Joseph Miller, Managing Partner, Morpheus. "Through their proven software and data-driven technology, HouseCanary is streamlining real estate transactions and changing the future of the industry." HouseCanary has built its reputation on developing unique analytics for the $30.7 trillion residential real estate market, based on big data and refined through machine learning.

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