News that the Toronto proptech startup Properly snagged a cool $22 million in Series A financing comes at a timely moment in the tech sector. Just when machine learning starts to streamline the industry, buying and selling homes never was easier.
Founded back in 2018, Properly uses machine learning to help homeowners see the real value of their home on the open market. In addition, the platform allows users to sell directly to Properly and close quickly. With Properly's price match guarantee if the home sells for more than Properly’s offer, they get 50 percent of the difference is refunded, the Canada startup seems to have created the perfect market storm.
This latest funding was led by Prudence Holdings, with participation from Golden Ventures, and Kevin Ryan of AlleyCorp, among others. Properly said this investment will accelerate the startup’s expansion within Calgary and to other Canadian cities, as well for expanding their technology. Anshul Ruparell, CEO of Properly had this to say about his company's value via press release:
“Selling or buying a home is one of the most significant milestones in your life, yet the existing process is complicated, time-consuming and stressful. We’re thrilled to offer Canadians the ability to get a near-instant offer on their home and to close a home sale on their schedule with certainty.”
Properly currently has a team of 20 people tackling the big job of applying machine learning to best price solutions. Properly’s founding team has experience building and scaling high-growth technology companies that transform industries through amazing customer experience. For instance, Anshul Ruparell (CEO) is a former private equity and venture capital investor, who's been involved in several early-stage ventures across the U.S. and Canada.