Real estate investment platform Privy has closed a $4 million funding round to further develop its technology and scale operations. The investment comes from venture capital firm Cypress Growth Capital and represents a significant milestone in Privy's mission to make real estate investing more accessible.
Streamlining Real Estate Analysis
Founded in 2019, Privy has built a software platform that simplifies the process of finding and evaluating residential investment opportunities for individual investors and realtors. The company pulls together multiple real estate data sources, including MLS listings, and combines them with proprietary algorithms to surface low-risk, high-potential investment properties at the click of a button.
This "push button" approach to real estate deals has fueled significant customer growth for Privy in recent years. The startup's user base has increased by 1000% over the past two years as its technology streamlines a process that traditionally required hours of manual research. Privy's platform automates much of the analysis to produce targeted investment recommendations.
Funding to Fuel Continued Innovation
The $4 million funding round was led by venture capital firm Cypress Growth Capital. Privy CEO Scott Fahl said the new partner was well-suited to help the company scale its operations strategically. He noted the investment validates Privy's work to date and sets the stage for transforming the real estate investment landscape.
According to Fahl, the capital will be directed towards ongoing product development, enhancing the customer experience, and broadening Privy's sales and marketing efforts. On the product side, upcoming initiatives include new investment analytics tools and database expansions. These technology additions aim to solidify Privy's leadership position in real estate investment software.
Expanding Industry Engagement and Outreach
In addition to powering its technology roadmap, the funding will support Privy's goal of increasing industry exposure. Fahl is scheduled to present at several prominent lending conferences over the next year, including the American Lending Conference and the NPLA Conference.
These speaking engagements reflect Privy's dedication to educating the real estate and lending communities on harnessing data and automation. The startup wants to demonstrate how its platform streamlines processes and opens up new investment potential previously difficult to access for individual investors.
Validating an Innovative Approach
Cypress Growth Capital Managing Director Vik Thapar commented that Privy has a pioneering Software-as-a-Service solution filling a fast-growing market need. He highlighted the company's unique value proposition for real estate investing.
According Thapar, the investment by Cypress underscores confidence in Privy's position and potential within the industry. It validates the company's track record of success since launching in 2019 and will help further development of its one-of-a-kind investment discovery platform.
With the new funding in place, Privy is well-positioned to scale its model and make property investment opportunities more transparent and approachable for users across North America. The technology startup remains focused on its mission to "democratize" real estate through data and software innovation.
