Real estate technology company Clever Real Estate has raised an additional $2 million in funding from venture capital firm Cultivation Capital and EssentVentures LLC, a subsidiary of Essent Group Ltd. The financing round also includes real estate tech strategist Mike DelPrete and builds on the company’s previous $11 million in equity capital, signaling continued belief from industry insiders during a time of market uncertainty.
Clever said that it is on a mission to connect people with the most trustworthy advice and the best solutions for every step of their real estate journey. Its primary offering is a realtor matching platform that helps home sellers and buyers compare personalized realtor matches and save up to 50% of the typical fees. Clever’s network spans 19,000 agents across all 50 states.
“Clever has been a company that always exceeds expectations,” said Clifford Holekamp, co-founder and managing director of Cultivation Capital. “We are pleased to have the opportunity to support them again in this funding round.”
This strategic investment comes as Clever launches a title and escrow closing solution in the second quarter of 2023 and continues to grow its lender partnerships channel, which has grown 700% year-over-year and is on pace to transact over $750 million in real estate this year.
“Clever has built the No. 1 online education platform in real estate,” Clever’s co-founder and CEO Luke Babich said. “In Clever’s next chapter, we’re using that platform as a springboard to launch new solutions for both consumers and real estate professionals. We couldn’t be more excited to welcome these new partners to the table, who bring additional capital and expertise to help Clever achieve our mission.”
