TLDR:
- Perchwell, a brokerage and MLS software platform, secured $25 million in Series B funding led by Lux Capital.
- The funding will be used to enhance Perchwell’s AI components and streamline workflows for real estate professionals.
Brokerage and MLS software platform Perchwell recently announced the closing of a $25 million Series B round of funding led by Lux Capital. Lux Capital, the company’s Series A round leader, also participated in this round along with REColorado MLS, Starwood Capital Group, Flex Capital, Stellar MLS, and Venture MLS. Venture MLS, a fund launched by the California Regional MLS, made its first investment in Perchwell, aiming to combat the dominance of larger enterprise technology companies in the evolving software market.
Perchwell’s CEO, Brendan Fairbanks, highlighted the company’s mission to provide real estate agents with powerful property-centric data in web and mobile platforms to deliver accurate guidance quickly. The New York-based company focuses on engineering artificial intelligence to streamline workflows for brokerages, improve business performance visualization, and empower agents to build stronger relationships.
With venture capital investors closely monitoring the real estate software and proptech market, Perchwell’s funding will be allocated towards enhancing the AI components crucial for various aspects of the industry, including home searches, inspections, title processes, and lending. Lux Capital’s co-founder and managing partner, Peter Hébert, emphasized Perchwell’s role in setting a new industry standard by providing a complete and modern software platform for real estate professionals. Hébert will also be joining Perchwell’s board of directors.
The funding round comes amid a decline in total proptech venture capital investments, signaling a challenging market environment influenced by economic and geopolitical factors. Despite these challenges, the proptech investment activity remains resilient, offering essential support for the gradual evolution of the global property sector. Perchwell’s ability to streamline workflows, leverage AI, and provide comprehensive solutions positions it as a key player in the industry, addressing the evolving needs of real estate professionals and MLSs.
