OJO Labs raises $20.5M Series B Round

Royal Bank of Canada participated in the round

Artificial intelligence (AI) startup OJO Labs raised $20.5 million in a Series B round.

The premise: Consumers avoid asking residential real estate agents questions when they aren’t ready to transact. The startup contends that this happens because agents push clients to buy when they’re only at the exploratory stage. 

Solution: If you agree with the premise and the problem…  The AI tool answers questions of potential homebuyers, so they can avoid dealing with an agent early on. 

Worth Noting: The company worked on its technology for around three years before it fully launched, according to Inman. 

Investors include: Realogy, the Royal Bank of Canada, Northwestern Mutual Fund Ventures, ServiceMaster, LiveOak Venture Partners, and Silverton Partners.