HouseCanary, a real estate analytics company headquartered in San Francisco, announced that the company has received approximately $33 million from technology investors, including Hillspire, Alpha Edison, ECA Ventures, and Raven Ventures.
According to TechCrunch, HouseCanary has built a data business that assesses and predicts the value of approximately 100 million homes using machine learning and comprehensive algorithms. The company benchmarks residential areas based on local schools, the employment market and crime rates.
Jeremy Sicklick, CEO and Co-Founder of HouseCanary, said he wants the company to set the foundation for the future of residential real estate in the digital space. "We are on a mission to help people make better real estate decisions," he said. "We want to do for residential real estate what Bloomberg did for financial services–build a platform that will be a beacon of accuracy and transparency, enabling greater speed and confidence in residential real estate transactions."
Blackstone Invitation Homes, Sotheby's International Realty, and three mortgage lenders are several companies who are using HouseCanary’s analytical products, according to a press release.
Chris Stroud, Chief Scientist for HouseCanary, said that the company is positioning itself to be one of the leading resources for the real estate industry in the years to come. "Data is behind virtually every significant industry transformation," he said. "By systematically gathering and analyzing terabytes of data from every county in the United States and some 10 million U.S. Census blocks, HouseCanary has set itself up to be the trusted source for residential real estate information now and into the future."