Proxio Snares VC Investment
SAN BRUNO, CA, The Women's Venture Capital Fund (WVCF) announced today its investment in Proxio, Inc., the international multiple listing service and global real estate network.
The Women's Venture Capital Fund (WVCF) announced today its investment in Proxio, Inc., the international multiple listing service and global real estate network. WVCF participated in the company's $4M Series A preferred stock financing and acquired a seat on Proxio's board of directors.
Proxio's cloud-based platform harnesses the power of social networking to help real estate professionals worldwide connect, network, manage and market listings securely-in and across global markets. The platform instantaneously translates languages, converts measurements and currencies, and displays culturally appropriate data formats. Key customers include Keller Williams Worldwide; Asian Real Estate Association of America; Secovi-SP in Brazil; the National Association of Realtors India; and ORPI, the largest French brokerage.
"We are delighted that the Women's Venture Capital Fund is our first institutional investor," says Janet Case, Proxio's CEO and co-founder. "In addition to providing significant capital to accelerate our growth, we value the Fund's digital media expertise, strategic insights and network of contacts."
Proxio targets emerging markets such as Brazil, where its integrated platform brings efficiency and transparency to the real estate industry, and developed markets such as Europe, where the ability of brokers to be global, multilingual and connected is increasingly a necessity.
Within the U.S., Proxio targets U.S. companies and associations that serve the growing number of foreign buyers in cities like New York, Los Angeles and Miami. Proxio has multiple revenue streams, including international multi-year contracts.
"The Women's Venture Capital Fund is pleased to invest in Proxio. The real estate industry is undergoing a digital transformation and, given Proxio's unique global value proposition, the business is on track to be highly scalable in the medium term," says Edith Dorsen, Managing Director of the WVCF. "No other real estate technology platform is as broadly applicable or versatile as Proxio on a worldwide basis."
The Women's Venture Capital Fund invests in gender diverse teams creating capital efficient companies in digital media and sustainable products and services. The Fund targets early stage companies that demonstrate market traction with high growth potential. This investment strategy - coupled with a highly disciplined approach to sourcing, selecting, managing and exiting investments -- now provides the potential for significant returns.
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