NEW YORK — Real estate marketplace Perch has raised $30 million in first round financing. The Series A investment was led by FirstMark Capital, with Juxtapose and Accomplice also participating in the round. The capital will be used for scaling the company’s home buying marketplace and product development as Perch revolutionizes the antiquated process of buying and selling a home. As part of their investment, FirstMark Capital Founder and Managing Director, Rick Heitzmann, will join the Perch board of directors.
In the past 10 years technology has massively disrupted retail, transportation, and currency markets – yet the single biggest financial transaction that most Americans will make has not fundamentally changed. In 2017, serial New York entrepreneur Court Cunningham founded Perch to build a marketplace that transforms the home purchase and selling experience.
By harnessing the power of data science, technology, and human-centered design, Perch’s platform provides a seller experience that delivers a market price offer for an individual’s home in 24 hours with the ability to close at a time of one’s choosing. No home showings, no repairs to do, no contingent offers, no fear of the offer falling through before closing. It’s the way a home sale always should have worked.
“Innovating on the home sale process is where we are starting, but it’s not where we finish,” said Court Cunningham, Perch CEO. “We believe that the way to truly transform residential real estate is by building a superior selling and buying experience – by becoming a marketplace for homes. For home sellers, we provide a seamless sale experience by removing the uncertainty and inconvenience. For buyers, we’re pioneering a new category of homes: Certified Pre-Owned; all Perch homes are move-in ready and include a warranty. This investment will be used to accelerate our product development around automating access to the related transactions that touch a home closing, including mortgage, title, and inspection. Perch will be the simple and easy way to find, purchase, and close on your home.”
“Real estate is one of the last massive industries that has yet to be meaningfully changed through technology. The Perch team is uniquely focused on serving both home buyers and sellers by building a true marketplace. We have known and respected Court for several years. The leadership team Perch assembled was one of the strongest we’ve seen at an early-stage company, with deep experience in technology, marketing, and real estate,” said Rick Heitzmann, Managing Director at FirstMark Capital.
Based in NY, Perch has launched its services in San Antonio, TX and plans to expand to new cities over the coming year.