Days after hosting its official launch party, ReaLync announced the close of its $200,000 Seed Round of funding. In addition, the company oversubscribed their initial seed round target and brought on an additional $100,000, which provides the ability to build out their team and evolve their product more aggressively. The company's seed investor group is composed of industry leaders from companies such as GrubHub, CBRE, Leo Burnett, ExactTarget, and more.
ReaLync is the first real estate focused cloud-based platform to enable live virtual property tours and agent interaction. The company was formed to capitalize on the 90% of buyers and renters that start their property search online, but still physically tour over 15 properties in person on average, according to a study by the National Association of REALTORS. ReaLync is bridging the gap between still photos online and physically being at a property in person, and doing it by providing an immersive virtual touring experience in real time between agent and client.
The seed funding will be used to hire key additions to the team, such as senior sales and development talent, and will also be used to fuel growth through key marketing and sales initiatives. The amount of seed funding closed is projected to meet the needs of the company until they seek a Series A round of funding in early 2015.
'We are thrilled at the caliber of individuals who believe in ReaLync and want to be a part of our vision to transform the real estate touring process,' said Matt Weirich, co-founder and CEO of ReaLync. 'Our team consists of experts in various areas of business and will be instrumental in helping ReaLync achieve our aggressive growth targets now and in the future.'
In addition to closing the seed round, the ReaLync team added key business leaders to their company's advisory board. ReaLync's Board of Advisors now consists of: Jeff Schwartz, President of Nanochem Technologies, Tommy Choi, Owner of Weinberg Choi Realty, Geoff Euston, Senior Vice President at CBRE, Matt Dobry, Senior Vice President at CBRE, Tim Kopp, former CMO of ExactTarget, a Salesforce.com company, and Brandt Kucharski, Corporate Controller at GrubHub.
'My investment in ReaLync is based on the belief that real estate buying habits are evolving to a more web and mobile enabled approach,' said Jeff Schwartz, President of Nanochem Technologies. 'ReaLync offers a technology that allows the personal touch and interaction real estate must have to be successful, but also allows a more customer-driven sales process in technology, time efficiency, content, and geography. ReaLync takes a more mobile approach to real estate buying that can't be matched by any other platform. Once this concept grabs on, it will become the new norm in real estate sales.'
Since launch of its web and iOS product, the company has already exceeded 200 users across the United States and around the world, which was pure organic growth. With the seed round funding, the company will hire key sales and marketing leaders to concentrate on ensuring ReaLync is in the hands of agents and consumers worldwide.
About ReaLync:
ReaLync is a web/mobile platform that enables live virtual tours of real estate, providing both buyers/renters and real estate agents a more efficient, convenient, and cost-effective way of touring properties. ReaLync transcends the photos and slideshows of yesterday by making property touring mobile, real time, and highly interactive. Learn more at http://www.realync.com and try it today in the Apple App Store.