Zavvie, a software technology company providing real estate brokerages customized marketplaces for buying and selling solutions, announced the completion of a $3.65 million funding round led by existing investors, including Second Century Ventures, the startup incubator backed by the National Association of Realtors. The new funds include $1.5 million in cash and $2.15 million in convertibles.
Zavvie also announced that Tyler Thompson, managing partner at Second Century Ventures, is joining its Board of Directors. Thompson brings more than 15 years of strategic, startup and operational experience to the Zavvie board.
“At Zavvie, we believe 2023 will be a breakout year for Power Buying because cash offers will particularly help first-time buyers,” said Lane Hornung, zavvie CEO and Co-Founder. “Also poised for explosive growth are two more categories: Listing Concierge or presale renovations, which help consumers sell their homes faster and at a higher sales price, and Homeownership Accelerators. Most renters still want to buy a home, and with a Homeownership Accelerator program, they can rent their starter home today and own it tomorrow.”
In 2022, Zavvie increased its total number of brokerage-assisted transactions by more than 400% over 2021 transactions, and grew its revenue by more than three times, year-over-year, the company said.
“As brokerages face shifting real estate markets head on, Zavvie is poised for continued growth in 2023 as they need more ways to unlock inventory and increase transactions,” Hornung said. “More consumers are embracing a better way to buy and sell a home, and that’s why we our best brokerage partners are increasing their business exponentially. We’re looking forward to doing more with our newest partners in 2023.”
