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HouseCanary Secures $31M in Funding
HouseCanary, a San Francisco-based real estate data analytics
and valuation platform, announced in September a commitment
of $31 million in funding from investors, bringing the company's
total funding to $64 million since it was founded in 2014.
Among the investors were Alpha Edison and PSP Growth, a
division of PSP Capital, which was founded by former Com-
merce Secretary Penny Pritzker. HouseCanary also received
additional investment from existing investors in its Series B
funding.
"Our vision continues to be validated by both the technol-
ogy and real estate industries and is further underscored by the
support from PSP Growth and Penny Pritzker, one of America's
most prominent entrepreneurs and business builders," said Jeremy
Sicklick, CEO of HouseCanary.
Pritzker chose to invest in HouseCanary because of the
"tremendous potential of HouseCanary's technology" and the
company's "strong management team."
"We are excited at the opportunity to work with the House-
Canary team as this dynamic company grows," Pritzker said.
Mike Oleshansky, Managing Director and head of PSP
Growth, said, "HousingCanary is quickly modernizing one of
the biggest industries in the United States. Its robust technology
enables users, from mortgage lenders to private investors to bond
traders to Realtors, to make truly data-driven decisions."
HouseCanary plans to use its $31 million in new investments
to "further innovate on predictive analytics, technology, and go-
to-market," according to the company.
Users of HouseCanary's platform can evaluate 100 mil-
lion properties with a median error of 2.5 percent, according to
HouseCanary. e company uses machine learning models and
40 years of past and present home sales data to value properties.
"HouseCanary's unique technology represents and industry
revolution, bringing access to transparent and actionable data to
all segments of the largest asset class in the world," Sicklick said.
Currently, HouseCanary has 250 enterprise clients, includ-
ing Invitation Homes, LendingHome, and Roofstock. e
company also has several distribution partners, including Google
Cloud, RE/MAX, and First American.
