SAN FRANCISCO — HouseCanary, a real estate analytics company, has closed a Series A funding round with $33 million in backing from Hillspire (Alphabet Executive Chairman Eric Schmidt’s family office), Alpha Edison, ECA Ventures and Raven Ventures.
The data-driven company is part of a wave of technology-fueled transformation sweeping the $36 trillion residential real estate industry, the nation’s largest asset class. HouseCanary is using its massive data set, predictive analytics, and intuitive visualization tools to allow investors, lenders and other real estate professionals to accelerate decision-making in an industry slow to transform because of fragmented and incomplete data.
“We are on a mission to help people make better real estate decisions,” said Jeremy Sicklick, CEO and co-founder of HouseCanary. “We want to do for residential real estate what Bloomberg did for financial services – build a platform that will be a beacon of accuracy and transparency, enabling greater speed and confidence in residential real estate transactions.”
Founded in 2014, HouseCanary is led by CEO Jeremy Sicklick and the company’s Chief Scientist, Chris Stroud. Prior to HouseCanary, Sicklick was a partner and managing director at The Boston Consulting Group. Following the collapse of Lehman Brothers in 2007, he was tapped to value real estate assets for several developers and private equity clients. He soon discovered that the industry lacked any real standard for valuing properties. He partnered with Stroud, an economist and statistician who was writing his Ph.D. dissertation on Dynamic Models of Financial Risk at the University of Texas in San Antonio. Stroud delayed his Ph.D. to help Sicklick co-found HouseCanary three years ago.