PriceHubble is a Switzerland-based B2B proptech company that builds innovative digital solutions for the real estate industry based on property valuations and market insights. The company has raised $34M (approx €28.87M) in its Series B round of funding.
The news follows the company’s recent acquisition of Czech-based Realtify. With this fourth acquisition, the company has expanded its services in the Czech and Slovak markets.
Investors in this round
The investment was led by Digital+ Partners, a European growth equity investor focused on international B2B software investments. Furthermore, Latitude Ventures, the Series B+ sister fund of LocalGlobe, the London based VC that supports high growth startups, and TX Ventures from Zurich – TX Group AG’s venture arm, also invested in this round.
Additionally, the Series B also saw participation from business angels including Dr. Martin Enderle (Chairman of Delivery Hero and former CEO of Scout24 Group), and from existing investors, such as Swiss Life and btov/Helvetia Venture Fund.
To bring transparency into real estate markets
PriceHubble is working towards improving the customer experience across the real estate and mortgage value chain. It does that by developing data-led and machine learning-based real estate with a focus on valuations, predictive analytics and actionable insights.
According to the company, “We provide insights and solutions to our clients, allowing them to make smarter real estate decisions and enabling them to boost critical performance metrics in their business (e.g. client conversion, retention or rental yield).” As a B2B company, PriceHubble addresses banks, asset managers, developers, property managers and real estate agents with its digital solutions.
Founded in 2016 by Dr. Stefan Heitmann and Markus Stadler, PriceHubble claims to have a team of 130 specialists, including data scientists, engineers, and seasoned entrepreneurs.
Remus Brett from Latitude Ventures, says, “Even though the marketing of real estate was first digitised more than a decade ago, many aspects of the sales and valuation process remain resolutely analogue meaning that each stage in the transaction process is fragile. PriceHubble is bringing data-driven valuation and predictive analytics to the sector to fix many of the problems that exist in real estate markets, increasing price transparency and ultimately serving buyers and sellers better.”
Use of the funds
The raised capital will help PriceHubble in its growth and expansion strategy, as well as to further innovate in data science resources.
Dr. Stefan Heitmann, Founder of PriceHubble, says, With this new capital, PriceHubble can further accelerate the global market expansion and continue expanding our technology leadership in data driven solutions for the real estate and finance markets. It is one of the largest B-rounds in the European PropTech scene.”
Currently, the company offers its services in 9 markets, including Switzerland, France, Germany, Austria, Japan, Netherlands, Belgium, Czech Republic, and Slovakia. With a triple growth over the last 12 months, the proptech startup currently has a customer base of 800 companies in Europe and Asia.
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