SAN MATEO — Real estate broker Reali said it has raised an additional $3 million investment into its Series A round from Silicon Valley investor, Oren Zeev. Oren is active in the real estate industry and has been a board member in companies such as Houzz, Audible, Chegg and HomeLight. He will also join Reali’s board as a new member.
Reali plans to use the new capital to further its marketing and engineering efforts and expand to new metropolitan areas. The addition of $3 million from Zeev Ventures and another $1 million from current investors brings the total Series A funding to $9 million. Lead investors in the initial Series A round included Signia Venture Partners.
Reali launched a year ago and has experienced strong growth and success with more than 50% growth quarter over quarter. Reali is currently available in key markets in Northern including the cities and surrounding areas of San Francisco, Palo Alto, San Jose and Sacramento. Reali is the first company in real estate to offer a flat fee model for both buyers and sellers. That means that Reali’s model takes zero commission from buyers and sellers and is a breakthrough in the traditional industry of real estate, with savings passed along to both parties involved in each transaction. On average, each transaction through Reali saved home buyers $28,550 off the cost of their home purchase.
“As an investor in the space, I’m seeing a lot of room for innovation in the housing and real estate industries. Reali has experienced significant momentum in just a year since they first launched to disrupt the real estate industry and I’m excited to work with them to continue scaling their business,” said Oren Zeev, Founding Partner at Zeev Ventures.
“Oren and I have enjoyed a successful collaboration for the past twenty years when he invested in a previous company that I started. His track record as a backer of tech disruptors is impressive. I’m pleased to have his expertise on hand as we continue building our business as the best experience available to home buyers and sellers,” said Amit Haller, Reali’s co-founder and CEO.