On Thursday, Reggora announced it raised $10 million in its Series A funding round led by Spark Capital. This comes one year after the company raised $3 million in seed funding and brings its total capital raise to about $15 million.
Reggora is a Boston-based fintech company that has created software for appraising real estate. Anyone who has purchased a home knows that home appraisal is an important part of buying property. It’s how buyers, sellers and mortgage lenders are able to objectively determine how much a home is worth and that determination can make or break a sale.
But home appraisals typically rely on manual processes or old technology, which makes Reggora an attractive option for appraisers. The company's software allows for quicker turnaround times and operational efficiency.
“Since our last round of funding, we have been able to establish ourselves as the premier automated appraisal technology and now work with regional and national lenders across the country. This latest round of funding is a testament to both our rapid growth and the strength of our software. I'm excited to continue our journey and spearhead a new era of appraisal modernization,” Brian Zitin, Reggora’s CEO and co-founder, said in a statement.
This new funding will help Reggora hire for its engineering, sales and operations teams, as well as expand its national presence.
