RealReports Secures $2 Million Investment to Expand AI-Powered Real Estate Data Services

RealReports, a proptech firm formerly known as BHR, has successfully raised $2 million in a seed funding round led by TTV Capital, Moderne Ventures, Erez Capital, alongside other notable venture capital firms. The funding will be instrumental in advancing the growth of RealReports’ innovative AI-powered product.

James Rogers, Co-founder and CEO of RealReports, expressed the significance of this milestone, acknowledging the challenging fundraising environment for startups over the past year. He stated, “We are thrilled to have such engaged and helpful investors join us in this round and are more confident than ever about our path forward.”

RealReports achieved an oversubscribed seed round, a noteworthy accomplishment in the face of a challenging venture capital climate. In 2023, there was a 67% decrease in the number of funds and total amount raised compared to the previous two years.

Lizzie Guynn, Partner at TTV Capital, highlighted the need for a solution in the fragmented real estate data landscape. She mentioned, “Realtors and their clients need a solution that provides them with critical information about a property at the start of the process, rather than days before closing.” Guynn commended RealReports for its comprehensive data set, industry knowledge, and early traction.

RealReports offers detailed information on every property in the United States, leveraging over 30 top data providers and an AI copilot capable of instantly answering any question about each home. Targeted at real estate agents, the product aims to enhance deal success, lead generation, property research efficiency, and trust-building with clients.

The launch of RealReports’ flagship product aligns with a pivotal time for the real estate industry, grappling with challenges such as the Sitzer/Burnett lawsuit. The lawsuit found key entities guilty of colluding over inflated commission rates, prompting the industry to seek new tools and resources. RealReports, with this funding infusion, plans to accelerate product development, expand its team, and further penetrate the market.

————-

If you are a proptech company and want to promote your products, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.

Explore more Proptech news at media.proptechbuzz.com, for news tips and promotions, reach out to marketing@proptechbuzz.com