Real estate appraisal start-up Reggora has announced closing a $10 million Series A funding round that brings the company’s total capital to almost $15 million.
Following a $3 million seed round in January 2019, Reggora said it would use the additional funding to expand its engineering, sales, and operations teams. The company also plans to develop its appraisal technology platform.
"Since our last round of funding, we have been able to establish ourselves as the premier automated appraisal technology and now work with regional and national lenders across the country,” said Biran Zitin, co-founder and CEO of Reggora. “This latest round of funding is a testament to both our rapid growth and the strength of our software. I'm excited to continue our journey and spearhead a new era of appraisal modernization."
In the previous year, Reggora has grown its client base and workforce and has invested in strategic partnerships and integrations to deliver a competitive advantage in the appraisal process.
"Our software is unrivaled from a technology standpoint,” said Will Denslow, chief technology officer and co-founder of Reggora. “We're using the latest technology stack that allows us to build at a pace no one in the industry has seen before. With this funding, we will be able to hire even more top-tier engineers and continue to stay at the forefront of appraisal innovation."
Venture capital firm Spark Capital led the round along with existing investor Boston Seed Capital.
"Reggora has exceeded all expectations from a customer and product standpoint since its seed round,” said Alex Finkelstein, a partner from Spark Capital. “We continue to be impressed with the company's ability to scale and innovate, and are excited to support their vision."