New York-based online real estate company USRealty.com has closed a deal for an undisclosed amount of financing with New York-based venture firm Third Prime Capital, which focuses on early stage companies.
Proceeds from the round will support the FSBO hybrid’s development of its real estate listing technology, sales and marketing efforts, and partnerships with institutional owners of residential properties.
“The rapid growth of our business has created a need to scale our customer offerings,” said Colby Sambrotto, President and CEO of USRealty.com. “This funding will allow us to develop the services and products we need to meet the growing demands of our expanding customer base, while maintaining excellent customer services and support.”
USRealty.com, which offers free access to the Multiple Listing Service (MLS), sold nearly $1 billion worth of homes in 2015.
The company said it will refine and expand its service offerings … and continue to develop relationships and services with institutional property owners.
“We believe that a growing number of homeowners want to reduce their transaction costs via an a la carte approach to listing their homes for sale, provided that time to close and likelihood of a successful sale are not negatively impacted,ˮ said Keith Hamlin, a Managing Partner at Third Prime Capital.
“With its extensive MLS access and seamless online listing process, USRealty.com is providing home sellers that option.”