Clever Real Estate is on track to achieve
profitability in the second half of the year, demonstrating its
commitment to financial discipline and long-term success.
LOUIS, May 10, 2023 /PRNewswire/ -- Clever Real
Estate, a fast-growing real estate technology company, has raised
an additional $2 million in funding
from venture capital firm Cultivation Capital and EssentVentures
LLC, a subsidiary of Essent Group Ltd. (NYSE: ESNT).
The financing round also includes real estate tech strategist
Mike DelPrete and builds on the
company's previous $11 million in
equity capital, signaling continued belief from industry insiders
during a time of market uncertainty.
"Clever has been a company that always exceeds expectations,"
said Clifford Holekamp, co-founder
and managing director of Cultivation Capital. "We are pleased to
have the opportunity to support them again in this funding
This strategic investment comes as Clever launches a title and
escrow closing solution in the second quarter of 2023 and continues
to grow its lender partnerships channel, which has grown 700%
year-over-year and is on pace to transact over $750 million in real estate this year.
"Clever has built the No. 1 online education platform in real
estate," Clever's Co-Founder and CEO Luke
Babich said. "In Clever's next chapter, we're using that
platform as a springboard to launch new solutions for both
consumers and real estate professionals. We couldn't be more
excited to welcome these new partners to the table, who bring
additional capital and expertise to help Clever achieve our
The news follows the company ranking No. 65 on Inc.'s List of
Fastest-Growing Companies in the Midwest, as well as the company
bolstering its leadership team with recent hires: VP of Content,
Rachael Maier, from Healthline; SVP
of Partnerships, Tony Chahal, from
HomeLight; and Head of Finance, Bryant
Gonzales, from Invitation Homes and Sundae.
Clever's main content business, which generated over 70% of
Clever's $3.25 billion in real estate
sales in 2022, has experienced 50% year-over-year growth. This
growth has been driven by the company's emphasis on educational
content, which attracts 10 million readers annually, and its
ability to help Realtors and mortgage lenders increase revenue in a
About Clever Real Estate
Clever Real Estate is on
a mission to connect people with the most trustworthy advice and
the best solutions for every step of their real estate journey.
Clever's primary offering is a realtor matching platform that helps
home sellers and buyers compare personalized realtor matches and
save up to 50% of the typical fees. Clever's network spans 19,000
agents across all 50 states.
About Cultivation Capital
Cultivation Capital is
an early-stage venture capital firm investing in software
technology, life sciences, agriculture technology, and geospatial
technology companies. Since its founding in 2012, the firm has
invested in over 150 companies and is recognized as one of the most
active early-stage investors in the
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Clever Real Estate
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SOURCE Clever Real Estate