Home valuation fintech pioneer HouseCanary has acquired Dropmodel, a technology startup with analytic and financial modeling solutions for the single-family real estate asset class. In addition, Dropmodel Co-Founder Tom Blake has joined the company as vice president of investor platform. This is the first acquisition for HouseCanary, which recently closed a $65 million Series C growth funding round. Terms of the acquisition were not disclosed.
“We are excited about our acquisition of Dropmodel and how it will enhance our product offerings,” said Jeremy Sicklick, co-founder and chief executive officer of HouseCanary. “Dropmodel will add speed and clarity to our clients’ workflows to allow them to make investment and underwriting decisions faster and with more confidence. This is important today and in the future, as our clients work with us to understand how market changes impact their business.”
Founded in 2017, Dropmodel is a web-based real estate financial modeling, analysis, and presentation application that includes a suite of smart, flexible models, calculators and tools for the single-family real estate sector. It helps single-family real estate investors — across all strategies — “drop” their data into analytical models and get instant results that support data-driven business decisions. Early investors included Palo Alto, California-based venture capital firm Social Capital, known for successful investments in Slack, Box and SurveyMonkey.
As a 50-state brokerage, HouseCanary helps investors buy and sell up to $200 million of properties each month. This acquisition will augment HouseCanary’s offerings providing investors with programmatic capabilities to buy smarter.
