Realm, which is a data platform that helps homeowners maximize their property's value, has received $12 million in Series A funding from GGV Capital.The round included existing backers Primary Venture Partners and Lerer Hippeau, as well as Liberty Mutual Strategic Ventures. This brings the total amount raised by New York-based startups to $15 million.Liz Young, founder of Realm, launched the platform in January with the aim to provide a one-stop shop for actionable and accessible home advice.Realm claims it has helped more than 20,000 homeowners to find an average $175,000 property value. Realm's user base grows by 20% each month.Young says that Realm is different than other valuation services out there because it can give owners an estimate of their homes' future value. Realm will not tell homeowners what their homes are worth right now, but they can get an estimate of what their home might be worth in the months and years ahead.Although there are many tools and services available that can make it easier for you to sell or buy your home, once you move, everything is still a black box. You'll need to find advice from a variety of sources to make big and expensive decisions. Consumers spend so much money on useless information elsewhere.Realm, for example, can use data from tax assessors as well as its own users to show homeowners in real time how their property's value will change if they make improvements such as a bathroom remodel or build a deck. Realm's algorithms can help homeowners assess their property and give advice about the best projects to increase value.Young explained to TechCrunch that the combination of the public data we have acquired, the data we get from users and the data we create ourselves has enabled us to create the most comprehensive and unique set of actionable real estate data in the U.S.Young says that Realms is free and offers insight on more than 70 million single-family detached houses across the U.S.Zoning data is a key component of determining where you can build on your property.Young stated that square footage is one of the most important factors in home value. Understanding the local zoning rules is essential if you want to know how much a home could or might be worth.Realms Marketplace is a marketplace where advisers connect owners with contractors, architects, and lenders who can execute the company's recommendations. It is currently available in California, but will expand to other markets over the next twelve months.Young stated that while people can digitally consume our insights, many want to be able to interpret them.The company will use the new capital to enhance the platform's data insights, and to hire across its data science and engineering teams. It will continue to improve its proprietary data sets, models and tools that offer homeowners in the country personalized analysis of more than 70 million homes.Realms' business is largely driven by its relationships and word-of-mouth through its existing users.Jeff Richards, GGV managing Partner and new Realm Board member, stated that his firm backs the Series A level when it is 100% on the founder.TechCrunch spoke with Liz about her seed round. He said that he was impressed by the way she treated him. She is smart, ambitious, and has a solid background in the industry she wants to pursue. I could see that she was thinking big, even though it was very early.He mentions that GGV Capital with assets of $2.5 billion is a long-term investor in other proptechs such as Opendoor, Divvy Homes and Belong.Zillow made it simple for people to search for a home to purchase. Richards explained to TechCrunch that Opendoor made it simple to sell or buy a house. Airbnb made it simple to rent a house for a short-term vacation. It's easy to rent a long-term home with Belong.Richards said that Realm was in GGVs sweet spot.He said that no one has focused on the individual homeowner's home management. After the seed round, she reached out to me to discuss her A. We met up again and I gave her a term paper 48 hours later.Richards believes that residential property is the most important spend category in the U.S., and is therefore virtually unaffected by technology.The annual home sales figure is over $1.6 trillion. Home improvement accounts for over $500 billion in U.S. revenue. The average home renovation in the U.S. costs around $15,000 with some homeowners spending more than $50,000.Since I bought my home 17 years ago, almost all of the things I do in relation to it are the same as they were a decade ago. Richards stated that the only thing that has changed is that I can now manage my thermostats and cameras from my smartphone. Everything else is basically the same, from the way that I renovate, to the way that I hire contractors to fix my house, and even the way that I pay my mortgage. It's exactly the same. It's absurd! Liz sees huge opportunities here. We agree. This market is huge. There will be many, many winners.
