U.S. Markets closed

RealScout Raises $6 Million Series A to Reinvent Real Estate Search by Empowering Agents and Their Clients

MOUNTAIN VIEW, CA--(Marketwired - Nov 17, 2014) - RealScout, the home search platform that helps agents close more transactions from active home buyers, announced today it has raised $6 million in its Series A round of financing. DCM led the round, with participation from Formation 8. Both were significant investors in the company's 2013 seed round. Additional investors included Ken DeLeon, the number one Realtor® in the U.S. in 2012 as named by The Wall Street Journal and REAL Trends, and Matthew Moore, former executive vice president of sales and marketing at Realtor.com and early investor in Retsly, a company acquired this year by Zillow.

In the past year, RealScout expanded its market coverage to Seattle and secured relationships with leading real estate brokerages, including Sotheby's International Realty in Burlingame, Zephyr Real Estate in San Francisco, Realty One Group in the East Bay, Carmel Realty in Carmel and Century 21 Bundesen in Petaluma. These brokerages are using RealScout to help their agents convert more home buyer leads into closed transactions faster through improved buyer engagement, collaboration and agent intelligence tools.

"RealScout is unique in that they're focused on building technology that empowers real estate agents instead of trying to minimize their role," said DCM partner Osuke Honda, who joined RealScout's board of directors with this financing. "We've seen enthusiastic early response from agents and brokers using the platform, and believe that RealScout's vision of helping agents be more successful represents a massive opportunity for the real estate industry," said Honda.

While portals like Zillow and Trulia aim to create more leads for agents, RealScout's singular focus is to increase the number of transactions and commission dollars for real estate agents by improving agents' close rates with buyers who are actively in the market for a new home.

RealScout's industry leading features include a modern home search that lets home buyers find properties by preferences that matter to them -- like homes with big backyards -- and agents search with all the power of the MLS. Custom, natural-language property alerts engage buyers while RealScout's dashboard monitors buyer search activity so agents can proactively respond to their client's changing desires. These collaboration tools, combined with an agent-branded mobile app for iOS, are empowering RealScout customers to be more successful with high-value clients.

"This funding round is an important milestone for RealScout, and it enables us to further our mission to keep agents at the center of the home buying process," said Andrew Flachner, CEO, RealScout. "Our search and collaboration tools give today's buyers the experience they expect, while helping agents close more transactions and provide better service."

RealScout is currently working with agents in California and Washington state. For more information about RealScout please visit www.realscout.com.

About RealScout
RealScout is a Mountain View based real estate technology company that helps agents win over active buyers with a modern search and collaboration experience. Their software helps agents manage more clients by offering a lightweight CRM and the industry's first natural language email marketing software. RealScout is funded by DCM's mobile focused A-Fund, Formation 8 and Ken DeLeon, the number one real estate agent in the U.S. in 2012 as named by The Wall Street Journal and REALTrends. For more information, visit: www.realscout.com.