Appraisal software company, Reggora, has announced its $10 million Series A funding round.
This funding round was led by Spark Capital, which also led the company’s $3 million seed round in January 2019. This round was also joined by existing investors, including Boston Seed Capital.
In a release, Reggora said it plans to focus on adding to its engineering, sales and operations teams, while expanding its nationwide presence and innovation in the real estate space with this funding.
“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,” said Brian Zitin, Reggora’s chief executive officer and co-founder. “This latest round of funding is a testament to both our rapid growth and to the strength of our software. I’m excited to continue our journey and spearhead a new era of appraisal modernization.”
This most recent round of funding brings Reggora’s total amount raised to about $15 million, according to the company.
In the past year, Reggora has expanded its client base, as well as invested in partnerships to provide clients with a competitive appraisal process.
“Reggora has exceeded all expectations from a customer and product standpoint since its seed round,” Alex Finkelstein, a partner from Spark Capital said. “We continue to be impressed with the company’s ability to scale and innovate, and are excited to support their vision.”
As a result of the seed funding round last year, Finkelstein joined Reggora’s board of directors.