Perchwell, the 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 first launched in New York CIty 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.
Perchwell was subsequently selected by the Real Estate Board of New York (REBNY) to operate its Residential Listing Service, the citiy’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.”
Perchwell’s end-to-end platform not only streamlines agents’ day-to-day workflows, but also facilitates interoperability among other technology products via API.
