Real Estate Startup zavvie Lands $3.65 Million in New Funding as Consumer Change Will Drive Company Growth Through 2023

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Jan 11, 2023, 08:49 ET

BOULDER, Colo., Jan. 11, 2023 /PRNewswire/ -- zavvie, a software technology company providing real estate brokerages customized marketplaces for buying and selling solutions, announced the completion of a $3.65 million funding round led by existing investors, including Second Century Ventures, the startup incubator backed by the National Association of Realtors.

Zavvie also announced that Tyler Thompson, Managing Partner at Second Century Ventures, is joining its Board of Directors. Thompson brings more than 15 years of strategic, startup and operational experience to the zavvie Board.

Newest zavvie Board Member Tyler Thompson, Managing Partner of Second City Ventures

Lane Hornung, CEO and co-founder of zavvie

The funding round illuminates how consumers have dramatically changed the way they bought and sold homes in 2022, using solutions such as Power Buying (cash offers), Modern Bridge (buy before you sell), Listing Concierge (presale renovations), Instant Sales (iBuyers), and Homeownership Accelerator (rent-to-own). The new funds include $1.5 million in cash and $2.15 million in convertibles.

"At zavvie, we believe 2023 will be a breakout year for Power Buying because cash offers will particularly help first-time buyers," said Lane Hornung, zavvie CEO and Co-Founder. "Also poised for explosive growth are two more categories: Listing Concierge or presale renovations, which help consumers sell their homes faster and at a higher sales price, and Homeownership Accelerators. Most renters still want to buy a home, and with a Homeownership Accelerator program, they can rent their starter home today and own it tomorrow," Hornung said.

Hornung notes that the massive shift in buyer and seller behavior in 2022 benefited zavvie's business momentum and growth: zavvie increased its total number of brokerage-assisted transactions by more than 400 percent over 2021 transactions, and grew its revenue by more than three times, year-over-year.

"As brokerages face shifting real estate markets head on, zavvie is poised for continued growth in 2023 as they need more ways to unlock inventory and increase transactions," Hornung said. "More consumers are embracing a better way to buy and sell a home, and that's why we our best brokerage partners are increasing their business exponentially. We're looking forward to doing more with our newest partners in 2023," Hornung added, noting zavvie recently announced its partnership with Windermere Real Estate to power Windermere Offers.

Moreover, in the last year, zavvie's operational nationwide footprint grew in 2022 to nearly 50 states. Agent growth on zavvie powered platforms grew to serve more than 75,000 agents today, and potentially reach more than 400,000 agents through partnership integration.

Zavvie recently announced a major integration with MoxiWorks and teamed up with several leading local and regional brokerage firms, including Windermere Real Estate, Kentwood Real Estate - a Berkshire Hathaway Affiliate, Helen Adams Realty, and Crye-Leike Real Estate Services.

In addition, a year ago, zavvie expanded its brokerage marketplace, adding buyer services from Divvy Homes, Feeasy, Flyhomes for Agents (now Sailbridge), HALO, Homeward, Knock, Landis, Ribbon, and Super. This year, zavvie joined forces with UpEquity and Revive.

"Consumers are driving the real estate industry to change rapidly," said Mike DelPrete, a leading industry analyst. "New buying and selling solutions became more commonplace than ever in 2022, and smart brokerages know that to compete today — and tomorrow — they must offer consumers all the options while keeping their agents at the center of the transaction for any solution a consumer chooses."

Hornung also notes that the recent launch of zavvie 2.0 software with its updated dashboard is helping agents streamline assisting their clients, and driving new business because of increased efficiency. He adds, "zavvie 2.0 sets the stage for incredible new software we will launch in 2023."

More information about zavvie is available at zavvie.com.

About zavvie

zavvie is a software technology company that provides real estate brokerages with a marketplace for buying and selling solutions via a white-labeled platform that keeps agents at the center of the transaction. Over 65,000 real estate agents in 47 states leverage zavvie's software technology to serve their clients better. Discover more at zavvie.com.

Media contact:
Kevin Hawkins | zavvie
206-866-1220 | [email protected]

SOURCE zavvie