Real Estate Software Developer HomeSpotter Raises $925K
HomeSpotter, a mobile applications developer for real estate agencies, closed a $925,000 funding round on Friday.
According to an SEC filing by the Minneapolis-based tech company, nine investors came together to raise the money.
HomeSpotter CEO Aaron Kardell said, “The funds will be used to continue growing our network of partnering brokers and [multiple listing services]” in effort to widen its active user base.
More than 250,000 agents throughout the U.S. and Canada, including Edina Realty, use software created by HomeSpotter. The company, which was founded in 2009 as Mobile Realty Apps, is known for its signature app (called HomeSpotter) that includes a tool that allows users to point their tablet or smartphone’s camera at a property to find out its sale price and information.
After wrapping a $1.8 million funding round in January 2015, HomeSpotter directed most of those funds toward building a messaging platform into its apps. Its new chat system allows agents and homebuyers to more easily communicate and share property information via smartphone.
In 2013, HomeSpotter raised $1 million to ramp up its sales and marketing efforts, along with hiring new employees and continuing product development.
The tech company currently employs about 30 people.