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HouseCanary raises $31 million to value residential real estate

HouseCanary raises $31 million to value residential real estate
From TechCrunch - September 14, 2017

What if you could accurately predict the resale value of a homebefore buying it? A startup calledHouseCanary claims that its data can help you with that.

Touting a system that can forecast a sale price within 2.5%, co-founder and CEO Jeremy Sicklick told TechCrunch that Eric Schmidt, Kobe Bryant and other well-known names are betting on his startup because they believe it will make real estate investors money.

HouseCanarys latest round is $31 million in Series B funding led by PSP Growth, a division of the investment firm founded by former Commerce Secretary Penny Pritzker. It includes existing investors and follows a $33 million a Series A round announced earlier this year.

Estimating the U.S. residential real estate market to be $30 trillion in size, Sicklick says that HouseCanarys business revolves around selling software to appraisers and real estate investment firms. His group negotiates licensing deals for the data.

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