Houwzer, which provides a real estate brokerage platform that gives home sellers a cheaper, better experience, announced it raised $9.5 million in new funding.
The Series A growth round was raised by lead investor Edison Partners, with participation from Admiral Capital Group, Go Philly Fund, Chestnut Street Venture, along with real estate investor Ira Lubert.
Houwzer plans to use the new fundings to expand its services into the Greater Baltimore area first, then grow its presence into Philadelphia and Washington DC. There will also be an expansion of services including mortgage, title, and insurance departments.
“Consumers continue to prefer human advisors, especially for a transaction this significant; but they also believe that advances in technology should translate into savings and a better experience,” said Houwzer CEO and Co-Founder Mike Maher, in a statement. “Our solution resonates because it puts the customer first – reducing chaos in the transaction without sacrificing service. We’re really excited to have found the right partner in Edison, who shares our vision and will help us bring a new real estate model to the masses.”
The Philadelphia based company also plans to double its workforce over the next 12 months and expand into Greater Orlando later this year.