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Venture Capital News: Houwzer Completes $118M Series B Round

2022-02-08
PHILADELPHIA, PA, Houwzer announces the closing of a $118 million Series B financing.
Houwzer, an end-to-end real estate brokerage and homeownership platform powered by proprietary technology and an all-W2 labor model, announces the closing of a $118 million Series B financing. The funding includes $18M in equity and a $100M warehouse line of credit that will enable the launch of three new consumer products that will be first to market in most of Houwzer's territories, while offering flat-fee pricing - which will be first to market nationally. Houwzer will introduce Cash Advantage, Convenience Offers, and Buy Before You Sell to help clients remain competitive in the most difficult housing climate in history.

The round was led by Edison Partners and brings Houwzer's total equity funding to $35 million since its 2015 inception. Edison Partners also led Houwzer's $9.5 million Series A raise in 2020. Series B follow-on investors include Admiral Capital Group, GOPhilly, and Ben Franklin Technology Partners.

Houwzer is a next-generation real estate brokerage and home services company built around the customer. Its full-service, salaried agents and loan officers help homeowners save when they sell and trust when they buy. Houwzer's proprietary technology is an end-to-end platform that streamlines the entire transaction from beginning to end with an integrated one-stop shopping experience. The company employs unique salaried agents as dedicated seller or buyer agent specialists who receive salary instead of commissions, allowing them to focus on service, not just sales. Houwzer has maintained an industry-leading Net Promoter Score of 84 and an average rating of 4.9 out of 5 stars from over thousands of client reviews online. Since launching in 2015, Houwzer has saved home sellers along the East Coast over $35 million and helped clients buy or sell thousands of homes worth almost $2 billion.
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