Movoto Real Estate secures 8 Million in funding from Japanese firm Mitsui Fudosan Co. Ltd.
SAN MATEO, Calif., Oct. 30, 2019 /PRNewswire/ -- Movoto Real Estate is pleased to announce that Mitsui Fudosan Co., Ltd., a global real estate company, has invested 8 Million in Movoto and is now a minority stakeholder. The influx of capital from Mitsui will allow Movoto to invest more in its AI-enabled end-to-end real estate platform and accelerate the growth of the company.
Movoto.com is a real estate technology platform company with more than 18 million monthly property searches for consumers and agents to collaborate. Tokyo-based Mitsui Fudosan is a global real estate company, with $17 billion in annual revenue.
"We have been looking at new platforms for the real estate industry for quite some time. We were extremely impressed by the AI-enabled, end-to-end platform that Movoto has matured over the years to provide for consumers and agents to collaborate so that agents can provide excellent service to consumers," said Daisuke Yamashita, General Manager of Mitsui Fudosan.
Movoto's rapid year-over-year (YOY) growth is an attractive feature for investors. Movoto consumer property search has grown over 70% YOY and is now one of the top five real estate sites for home buying and selling in the US. This growth is driving the adoption of the Movoto platform by Real Estate Agents and Teams. Now, Movoto is one of the few real estate technology companies that is profitable.
"We offer a great experience for consumers, all the way from property search to transaction, and for agents the tools to provide exceptional service to consumers," said Movoto CEO Imtiyaz Haque, "and this investment from Mitsui Fudosan helps us keep investing in our platform to help accelerate it."
About Movoto:
Movoto Real Estate was founded in 2005 on a simple idea: Real estate should be easy.
Movoto is a real estate technology company with more than 18 million monthly property searches on Movoto.com and an end-to-end platform for consumers and agents to collaborate. As the second-largest 50-state fully licensed online real estate brokerage in the US, Movoto is one of the most influential online real estate platforms.
CONTACT: Movoto Real Estate
movoto.com
Public Relations
Monica Villanueva
[email protected]
415-604-4788
SOURCE Movoto Real Estate
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