luxury appearance, A startup that sells marketing software to real estate brokerages today announced that it has raised $25.9 million for its Series B round. Bessemer Venture Partners Led round with fellow existing investors Toba Capital And Switch Ventures, Dallas Mavericks basketball player Dirk Nowitzki also participated in the round along with other angel investors, making his first institutional investment.
The Los Angeles-based company, which was last raised in January 2020, has raised a total of $33.3 million since its launch in 2016. Luxury Presence’s product has evolved over this period from a website building tool to a more holistic real estate content management system. Now includes a customized home search tool for agents as well as marketing, social media and lead generation support.
The company serves 3,700 clients, including individual and multi-agent real estate teams. Its customers are concentrated in high-end metropolitan areas in the US and Canada, founder and CEO Malte Kramer told Nerdshala in an interview.
Luxury Presence will use the funds to build new sales products for agents, some of which are expected to be announced later this year, as well as to continue to build on the platform’s design and user experience. It will also invest in launching a network similar to its new Global Collective, which helps its 30 member agents who have at least $1 billion in personal selling, connect and share opportunities.
Kramer said the company has doubled its workforce in the past year to more than 130 employees today, and plans to double that again in 2022. A key growth area for new employees is its 25-person sales team, many of whom will likely be located in the company’s second office in Austin that opened earlier this year.
Kramer said the recent surge of individuals moving to new states and territories during the pandemic has opened up opportunities for collaboration between agents. Increasing demand for second homes It has also catalyzed the luxury real estate segment in the last one year.
Kramer noted the importance of integrating real estate agents, who said they have historically not embraced new technology solutions.
Most agents are “hiring different specialists for different tasks,” Kramer said.
“They may have different to the point solutions and software tools. They may have a marketing assistant on a team, they may have a brother-in-law who does their SEO. It takes them a long time to do all those things , and they don’t integrate very well,” he said.
Luxury Presence’s affordable customer acquisition and high retention rates attracted Bessemer, which has backed major SaaS companies like Toast and Shopify, to invest, partner Byron Dieter told Nerdshala in an email.
“We looked closely at pattern recognition to look for signs of customers’ love [Luxury Presence],” Dieter wrote.