Spark Capital and Boston Seed Capital led the seed round
Appraisal startup Reggora has raised a $3 million seed round led by Spark Capital and Boston Seed Capital. The company has drawn comparisons to Bowery Valuation, which recently raised a $12 million Series A round.
What they do: They seek to optimize the antiquated and tedious appraisal process for residential properties. With basic software, an appraiser simply checks off boxes to indicate details about the property (e.g. high ceilings, close proximity to public transportation etc…). This combined with the company’s database of comps allows appraisers to write full reports faster than traditional firms.
Traditional method: Visit properties, snap pictures, collect information about taxes, zoning, and land use, requiring arduous manual administrative work.