Perchwell Raises $15 Million Series A to Scale Its Real Estate Data and Workflow Platform Nationally
Perchwell, the premier data and workflow platform for the residential real estate industry, announced a $15 million Series A funding round led by Founders Fund. Additional investors in the round include Lux Capital, Matterport, and California Regional MLS, the largest MLS in the United States. Perchwell will use the funds to expand its product and engineering teams, and to drive expansion into geographies beyond its home market of New York City.
As real estate evolves at an increasingly fast pace, agents are demanding innovative tools to better serve their clients and build their businesses. Perchwell’s data and technology platform empowers agents with the tools they need to thrive in today’s market. Perchwell first launched in NYC and quickly became the technology platform of choice among the city’s top local and national brokerages including Sotheby’s International Realty, Berkshire Hathaway HomeServices, and Serhant.
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Perchwell was subsequently selected by the Real Estate Board of New York (REBNY) to operate its Residential Listing Service, NYC’s de facto MLS. Perchwell is now expanding its MLS and brokerage product offerings into new geographies amid significant customer demand.
“We are thrilled to have the support of such talented investors and operators as we enter our next phase of growth,” said Brendan Fairbanks, founder and CEO of Perchwell. “It is critical that agents have the technology they need to compete in today’s market and we are excited to bring Perchwell to agents everywhere.”
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Perchwell’s end-to-end platform not only streamlines agents’ day-to-day workflows, but also facilitates interoperability among other technology products via API. Perchwell’s focus on interoperability is a major differentiator relative to the monolithic, closed systems that have proliferated in the past. “Perchwell has come at real estate’s technology problems from an entirely new angle and is doing something new to solve them, said Art Carter, CEO of California Regional MLS, the largest in the country. “Perchwell will be an important partner of ours and will play a major role in shaping the industry’s technology ecosystem more broadly. We are excited to work together in building the technology that our agents need.”
“Perchwell is bringing real estate into the twenty-first century” said Keith Rabois, General Partner at Founders Fund. “Brendan and his team are delivering much-needed innovation in real estate technology. They’ve proven themselves in the competitive New York market and we’re looking forward to their rapid expansion to even more markets.”
“Real estate is the world’s largest asset class, and the industry is in the early innings of a complete digital transformation,” said Peter Hebert, Co-Founder and Managing Partner of Lux Capital. “We believe Perchwell and its interoperable technology platform will lead that transition for the residential market.”
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