Data Nerds has raised $3 million in Series A funding from Foundry Group, Next Big Ventures, V1.vc, and Techstars Ventures.
Founded in 2014, Kelowna, BC based Data Nerds is focused on aggregating, digitizing, and standardizing property data and presenting it to consumers through its API and intuitive line of products under Estated name.
Estated Data, Data Nerds’ new API product, will enable developers, programmers and data scientists to enrich their existing applications with a full suite of powerful and diverse property data points. The API looks to provide solutions across all relevant industries, servicing companies in real estate technology, energy, home services, mortgage lending, marketing and more.
Estated Reports aims to revolutionize the home buyer experience by leveraging our improved valuation model paired with existing core data including extensive property details with information on owners, possible residents, damage risks and climate risks, financial history, and crime information.
From these two core products, Estated will develop supplementary products and features to be announced shortly. These will leverage and build upon our growing data science foundation and seek to develop more intelligent insights.
The US residential real estate market is currently valued at over $36 trillion and sees approximately 5.5 million homes sold annually, making the need for intelligent property data essential to the growth of the industry.
“Given the sheer volume of data, legacy vendors charge exorbitant amounts for minor manipulation and presentation of data. Local counties are either still paper-based or have outdated technology platforms for a person or business to interact with,” said co-founder of Foundry Group Jason Mendelson. “One would think that with today’s processing power that all of this data could be aggregated with real insights that benefit consumers and businesses alike. Data Nerds is solving this problem.”
photo credit: Data Nerds