While various software companies like Zoom and Slack have made it possible for many to work from home, technology has done little to ease the pain points associated with actually buying a piece of real estate to call home.
But Orchard, the tech company bringing the listing, buying, loan, and selling process onto one platform, has been making a splash in the real estate market even during these uncertain times.
Fresh off of an expansion into Georgia and Texas, New York-based Orchard announced this week a $69 million Series C funding round, led by DC-based venture capital firm Revolution. This brings Orchard’s total investments to $138 million since the company’s launch in 2017.
Phil DeGisi, Orchard’s Co-Founder and Chief Product & Marketing Officer, told Hypepotamus that the investment will help bring further innovation in real estate.
“The new funding will ensure that we are able to continue our mission of revolutionizing home buying and selling,” said DeGisi. “Over the next few months, customers can look forward to seeing new products and services that will make the home buying and selling experience easier than ever.”
The Orchard platform leverages machine learning to better classify real estate listings, and helps users search titles and mortgages more easily.
For homebuyers, the company’s Move First service helps alleviate the stress associated with being a contingent buyer, allowing customers to buy a house on Orchard’s cash without the stress of waiting to sell their previous property.
DeGisi told Hypepotamus that Orchard has plans to continue to expand across the great Atlanta area and beyond after the new funding round.
While it is generally a tough time in the real estate market, Orchard’s latest report shows that since the summer the Atlanta market has been flooded with buyers seeking new homes.