Changelog
Showing the latest five of 64 total updates. The last update was made on April 30th, 2025.
Reos was added to Real Estate
Fello had its URL changed
Revenue updated for Opendoor
Fello was added to Real Estate
Revenue updated for Opendoor
In this report we're tracking $704M in monthly recurring revenue, $500M in acquisitions and $704M in funding.
#1
IACrea: $8.7K+ in Monthly Recurring Revenue
Home visualisation software
IACrea is a virtual home staging software platform which was founded in 2023.
The service allows users to virtually remodel the interior or exterior of a property in order to enhance the look and gain inspiration. This includes visualisting decluttering, decorating, furnishing or renovating a space to see how it could potentially look.
IACrea features four different pricing options. The first is a once-off payment of $29 (plus VAT) which allows five photos for redesign and 60 image projections. The other three tiers are subscription based starting at $22 per month (plus VAT) and allow from ten photos for redesign and 160 projections, to unlimited at the higher pricing levels.
Since launching in March 2023 more, than 41,000 property images have been created. The subscription model wasn’t introduced until September 2023, but within the first five months of this new pricing model the business went on to achieve €2,048 (~$2,200) in monthly recurring revenue. This has since grown to over €8,000 (~$8,700) MRR helping the business achieve over €100,000.
#2
Interior AI: $38K in Monthly Recurring Revenue
AI-Powered interior design
Interior AI provides interior design inspiration to those looking to improve their home or show a homes true potential for real estate listings, which was created by Pieter Levels.
The software allows users to take a photo of a current interior, choose one of the 50 styles they wish to see it in, and then let AI redesign the room in a matter of seconds.
The virtual staging capabilities allow users to visualise an empty room as fully furnished, to make it more desirable or showcase the real potential of the space.
The platform also allows customers to transform sketches or SketchUp into photorealistic images thanks to artificial intelligence.
There is a free plan available which lets users visualise a room by providing their email address. Or with the Pro plan, costing $390 per year, customers can use the AI staging up to 1,000 times per month.
A growing number of customers using this paid option has allowed Interior AI to generate $38,000 in monthly recurring revenue.
#3
Connect Media: $3M in Annual Revenue
National Commercial Real Estate News and Services
Connect Media provides commercial real estate news to thousands of readers and was founded in 2015 by Daniel Ceniceros and Sarah Quinn.
The latest news and market analysis is is published regularly with over 50 stories per day, which are viewed by over 250,000 individuals each month.
In addition to this, the site hosts Connect Classroom which is a CRE course for commercial brokers, appraisers, lenders, architects, and lawyers in the real estate industry.
Another arm to the business is Connect Creative which is a content, marketing, and design service offered specifically to real estate clients.
The last reported revenue for the business as a whole was $3 million, which represented a significant increase on the $1.6 million from the previous year.
#4
Archistar: $5.1M in Annual Revenue
Property Development and Feasibility Software
Archistar helps professionals find property development opportunities after being created by Dr. Benjamin Coorey in 2010.
In the earlier days the business was primarily an education portal (Archistar Academy) for students and design firms. Whilst this e-learning platform is still used by educators and businesses, Archistar now also provides the AI property decision platform that you see today.
Archistar's artificial intelligence service uses over 25,000 sources to help those in the property industry discover land development opportunities, as well as creating design strategies and feasibility studies to go with it.
Users can access a limited free option, with pricing then starting at $95/m for a basic user and $695/m for a professional user. To date they have served over 100,000 customers.
This has led to the company - which has received AUD 35.6 million (~$23.9M) in total funding - reporting annual revenue of $5.1 million according to their latest accounts. A huge increase on the $1.59 million received just two years earlier.
#5
Reos: $6.4M in Annual Revenue
Property management software
Reos is a property management service for residential and commercial buildings in the DACH region (Germany, Austria and Switzerland).
The platform provides software in the form of real-time data analytics and an app for tenants, with the aim of helping property owners reduce operating costs and accommodation vacancy rates.
The business was founded in 2017 by Kjell Ole Beckmann and Tom Leppin, and has since grown to a team of 90 staff.
Reos shared that in 2023 the business generated €5.63 million (~$6.4M) in annual revenue, representing a three-year growth rate of 415%.
#6
Topkey: $6.9M in Funding
Property management Financial Software
Topkey provides financial automation software designed to save property managers time and money. The business was founded in 2021 by Bryan Beshore and Jonathan Sukhi.
The service allows vacation and short-term rental property owners and managers to streamline the workflow of their banking, bookkeeping, corporate cards, expenses and payments from one platform.
Within the first three months of launching, the company had onboarded 20 customers, and three years later, the software is used by more than 75 property managers.
In mid-2023, Topkey received $5.2 million in seed funding, taking its total investment received to $6.9 million.
#7
Fello: $10M in Annual Revenue
Marketing tools for realtors
Fello, formerly FlashHouse, is a lead generation platform for real estate agents which was founded in 2019 by Stephen London, Tom Schrader and Ryan Young.
The software enables realtors to generate new leads and listings with the help of data driven marketing funnels and automated outreach campaigns.
To date more than 10,000 agents have used service to support their real estate businesses.
No public pricing available, but users can sign up for a demo to understand how Fello can help drive sales.
Stephen shared that the business - which received $25 million in funding in 2022 - had generated $10 million in annual recurring revenue after just 18 months, and was on track to achieve $15 million in ARR after two-years.
#8
Cecilian Partners: $11M+ in Funding
The OS for real estate development
With a SaaS aimed at helping every stage of the real estate development process, Cecilian Partners has raised over $11M to date.
We say "over $11M" as they originally raised a Seed round in 2021 but the numbers of which were not disclosed.
With one of the most beautiful web designs I've seen in a while, the company were featured on the Inc 5000 for 2024. We don't know their exact revenue numbers, but due to the requirements for being featured on the Inc 5000, we know they're growing fast and generating at least $2M per year.
The aim of their platform is to help end users reduce manual work, increase their lead conversion rate, get faster approvals and combine their data in one place.
#9
Zoocasa: $13.6M in Annual Revenue
Canadian Real Estate Website
Zoocasa is a property listing platform which is now owned by eXp Realty after being originally founded in 2007 and then purchased by Lauren Haw and a group of investors in 2015.
The site features Canadian real estate listings and a range of digital tools which support a full-service real estate offering. Zoocasa also presents a weekly newsletter which reaches over 100,000 subscribers.
In 2016 the business raised $1.35 million in funding, and in 2020 they celebrated the significant milestone of supporting in $1 billion worth of homesales.
This investment and strong customer base has helped Zoocasa grow to $13.6 million in annual revenue.
#10
Digs: $14M in Funding
Residential homebuilding collaboration software
Digs is a collaboration software platform to support the process of homebuilding in the United States, which was founded in 2021 by Ryan Fink and Ty Frackiewicz.
The AI-powered service makes it easier for homeowners and builders to communicate and streamline the main aspects of building a residential property. This includes planning and 3D designs, construction, completion and warranty. As well as creating a complete set of documentation for the entire process.
The Digs Starter tier is free for all users managing a single project and includes many features you’d expect to find in a paid subscription.
There are also two paid levels starting at $59 per month which include unlimited storage, projects, and collaborators as well as other features such as analytics.
Digs announced in January 2024 that they’d raised an additional $7 million in funding on top of the previous $7 million investment the business received in 2023.
#11
Amber: $16.3M in Annual Revenue
Student accommodation booking platform
Amber helps 80 million students across the world source and book full-time accommodation and housing near their colleges or universities.
The site features more than one million beds available to book in 10,000 different accommodation options. These are close to 800+ universities across more than 250 cities worldwide.
As well as an extensive accommodation portfolio, the business also offers students 24-hour assistance via phone, WhatsApp, live chat or email. This is perhaps part of the reason they’ve supported millions of students to date.
Amber claim that 40% of their property partners achieved a 30% growth in the last two years through working with the business.
Their latest annual revenue was $16.37 million, with 40,000 bookings in 2022 alone. A huge increase on the previous year's income of $3.64 million.
Supported by $21 million in business investment, one of the key drivers for Amber's growth is the fact that organic traffic has increased 25-fold over the last three years.
#12
Square Yards: $84M in Annual Revenue
Indian Real Estate Company
Square Yards is a platform to help users find their dream homes which was founded by Tanuj Shori and Kanika Gupta Shori.
In addition to real estate listings, the site features property price trends, rates heatmaps and property valuation reports.
In order to provide this information to customers, the business has multiple VR and AI uses and patents in place.
Square Yards currently operates in nine different countries including Australia, Canada and UAE. Combined the website receives seven million visitors each month.
To date, Square Yards and their team of 7,000 employees have served over 100,000 customers. This is reflected in their latest annual revenue report which revealed income of $84 million, a 70% increase on the previous financial year.
#13
Habyt: $118M in Funding
Fully-furnished property renting service
Habyt is a coliving and private apartment rental platform that was founded in 2017 by Luca Bovone.
The service is designed for students and digital nomads looking for accommodation for longer than a traditional hotel stay but with more flexibility than renting from a private landlord.
There are more than 30,000 fully furnished residential spaces on Habyt, spread across 50 cities in three continents. Customers can choose a location and stay duration from days to months and then sign a contract online before moving into their new accommodation.
The business, which has a team of over 400 employees, received €40 million (~$42M) in funding in September 2024, bringing the total amount of investment in Habyt to €109 million (~$118M). The plan for the latest capital is to continue the strategy of targeted company acquisitions to strengthen its position in this space.
Habyt expects to become profitable in 2024 and has a projected annual revenue of €300 million (~$325M) after seeing substantial growth in Asia, Europe and the United States.
#14
Rightmove: H1 2024 Revenue of $236.2M
UK Property search platform
Rightmove is a UK digital property portal which was founded in 2000 by four estate agencies looking to increase exposure of the houses they had available.
The business features home listings for sale and available to rent from a large number of estate agents, and allows users to search for their next home using specific criteria such as cost, location and size.
In 2023, around 847,000 properties were advertised each month on Rightmove - up from 773,000 the previous year - making it the largest residential property platform in the United Kingdom.
The company generates revenue through a subscription-based service that allows commercial property agents, estate agents, letting agents, and new-home builders to advertise their properties on the website. The number of customers subscribing to the service has remained consistent at around 19,000 for the last two years.
In 2023 Rightmove posted annual revenue figures of £364.3 million (~$471M), a 10% increase year over year. This income generated £264.6 million (~$342M) in underlying operating profit for the business, which was up 8% YoY.
The H1 2024 revenue for the business was £192.1 million (~$236.2M) which was up 7% YoY.
#15
Follow Up Boss: Acquired for $500M
Full solution Operating system for Real Estate Teams
Follow Up Boss is a full service CRM for real estate agents which was founded by Dan Corkill and Tom Markov.
The platform enables users to manage their leads and contracts, liaise with and organise teams, and have full business visibility in one place.
Follow Up Boss allows a large amount of user flexibility within their existing workflow due to having over 250 integrations in place, including with the likes of Homes.com, Zapier and Facebook. This supports customers automate texts, calls and emails with prospects through the platform.
Essentially, the business allows the 100,000 real estate agents who use the service daily to focus on delivering for their clients.
Pricing for the Grow tier costs $57 per month and is designed for individual agents and small teams. The Pro level is priced at $416 and is targeted at growing teams of up to ten, whilst the Platform subscription costs $833 per month and supports teams of 30+ users.
It was announced in November 2023 that Zillow had reached an agreement to purchase Follow Up Boss in a deal worth up to $500 million. Follow Up Boss will continue to operate as a standalone business, but all employees will move over to the Zillow Group.
#16
Redfin: Q3 2024 Revenue of $278M
North American real estate business
Redfin is a real estate brokerage which was founded in 2004 by Michael Dougherty, David Eraker and David Selinger.
The platform supports homeowners in selling or renting their property, as well as buyers and renters in finding their next home.
The business helps users find properties through email notifications, connecting with agents, sourcing mortgages, and conducting tours of homes listed on the site. It also introduced Redfin Redesign, which allows those listing to change the appearance of properties with the help of AI.
Last year, around 62,000 customers in the United States and Canada used the service. When buying or selling through the portal, customers are typically charged a 1% listing fee.
In 2023 Redfin - which has received $569 million in funding - reported annual revenue of $976.7 million. And although this represented an 11% decrease year over year, this income generated $329.8 million in gross profit for the business.
The brand has started the new financial year strongly, with Q2 2024 results showing increasing revenue and profit year over year, as around 52 million users per month used their online services. Revenue for Q3 was 3% up YoY at $278 million with $101.9 million gross profit.
#17
Zillow: Q3 2024 Revenue of $581M
U.S Real estate platform
Zillow is a real estate marketplace which was founded in 2006 by Kristin Acker, Rich Barton, David Beitel, Lloyd Frink and Spencer Rascoff.
The platform allows users to buy, sell, and rent homes. It also supports customers with sourcing home loans and connecting with local realtors.
To date, the website has listed more than 160 million homes, including over one million rental properties. The business claims that 70% of US buyers and sellers actually use Zillow at some point during their transactions.
To back that up, around 194 million users used the brand's website and app each month, helping the business to achieve $1.9 billion in revenue in 2023. Income from residential sales and purchases accounted for 74% of the total revenue, with rentals making up 18% and mortgage support another 5%.
Last year, Zillow generated $1.5 billion in gross profit, and there are positive signs for 2024, with their Q2 report showing revenue growth of 13% and Q3 up 17% year over year at $581 million.
#18
Opendoor: Q4 2024 Revenue of $1.1Bn
Online home buying and selling service
Opendoor is an alternative to traditional realtor services and provides options for US customers to sell their homes. The business was founded in 2014 by Keith Rabois, Justin Ross, Ian Wong, and Eric Wu.
Users can enter their property details onto the platform to receive a cash offer to sell their home to Opendoor. This saves sellers the hassle of listing their house and showing it to potential buyers.
Alternatively, they can list their property for sale on the site, with the option of falling back on the cash bid if their asking price isn’t met through a traditional sale. Buyers can also use the service to browse residential listings in specific areas.
To date, Opendoor has been used by more than two million customers. The majority of its revenue comes from improving the properties they buy before relisting them for sale.
Last year, the business purchased 11,200 homes, down from 34,900 the previous year. This resulted in annual revenue falling by 55% to $6.9 billion in 2023.
However, the company - which has received $1.9 billion in funding to date - has started 2024 in a strong position in terms of property acquisitions and increasing revenue when compared to the year prior. For Q3 2024 revenue grew by 41% YoY to $1.4 billion.
