PropTech startup Entera has collected $7.5m in a funding round led by Bullpen Capital and Craft Ventures. Additional support came from ValueStream Ventures and former Keller Williams CEO Chris Heller.
With the fresh funds, the company is expanding the reach of its technology platform and scaleup its team.
Launched in 2017, the company helps investors to easily find and buy residential property. Its machine learning platform leverages algorithms and intelligent tools to help clients make better decisions.
It works by accessing property listings from MLS, iBuyers, off-market auctions, pocket-listings, portfolios and more – its database has over 2250,000 homes and is updated in real-time. Its algorithms then match a client with opportunities that meet their personal and investment needs.
Clients can select from various investments and the ability to run financials, understand the neighbourhood and similar properties, estimate construction and rehab expenses. Finally, they can complete the purchase through the platform.
The company claims it helps investors access 20% more properties and win double the number of properties at 2.5-times faster rate than traditional processes.
Bullpen Capital general partner Eric Wiesen said, “Real estate markets have long since moved online, but prior to Entera, there was no unified platform designed for professional real estate buyers and funds, a large and growing segment, to find, price or transact,”
“As more professional capital moves into residential real estate, companies like Entera who provide leading technology and tools and a highly experienced team will play a critical role.”