What is Properly?
Properly operates as a tech-enabled real estate brokerage, distinguished by its unique model that allows homeowners to purchase their next residence before listing their current property. This approach aims to streamline the often-complex process of moving, providing a more fluid experience for consumers. Based in Toronto, Canada, Properly is positioned within the burgeoning proptech industry, leveraging technology to enhance traditional real estate transactions and capture market share.
How much funding has Properly raised?
Properly has raised a total of $192.3M across 4 funding rounds:
Series A
$22M
Debt
$100M
Series B
$34.3M
Other Financing Round
$36M
Series A (2019): $22M with participation from Golden Ventures and Prudence Holdings
Debt (2020): $100M led by Silicon Valley Bank and i80Group
Series B (2021): $34.3M supported by FCT
Other Financing Round (2022): $36M featuring Parker89, FJ Labs, Bain Capital Ventures, and Prudence
Key Investors in Properly
FJ Labs
FJ Labs specializes in angel investing at a venture scale, focusing on marketplaces and network effect businesses. They have invested in notable companies such as Alibaba, Coupang, and Rappi, building the world's largest portfolio of marketplace startups, with over 30 achieving unicorn status. The company seeks visionary founders who demonstrate passion, grit, and the ability to execute their vision. FJ Labs is committed to supporting thousands of entrepreneurs who are driving positive transformations in their industries.
Bain Capital Ventures
Bain Capital Ventures LLC is the venture capital division within Bain Capital, which has approximately $105 billion of assets under management worldwide. The firm's early-stage investments have included Staples, LinkedIn, Kiva Systems, Jet.com and Shopping.com. Bain Capital Ventures manages $5.1 billion of committed capital, has over 70 active portfolio companies, and has offices in Boston, New York City, Palo Alto, and San Francisco.
Golden Ventures
Golden Venture Partners is a mobile focused seed and early-stage venture capital fund with investments across North America. They provide early stage funding and mentorship to extraordinary entrepreneurs that leverage the massive potential of mobile products and services. Golden Venture Partners was created as a response to the unparalleled growth in the mobile marketplace and the dramatic changes in how companies are created, financed and acquired. With the costs of creating valuable technology declining significantly, there is a tremendous opportunity for entrepreneurs to rapidly launch, test and scale new products and services. Golden Venture Partners is focused on funding these early stage companies to work together to launch the next generation of breakthrough mobile products and services.
What's next for Properly?
The substantial enterprise-level funding and recent strategic investment signal a pivotal phase for Properly. This capital infusion is expected to fuel further technological development, market expansion, and operational scaling. The company's focus on facilitating a seamless transition for homeowners between selling and buying properties positions it to capitalize on evolving consumer preferences in the real estate market. Future growth will likely involve enhancing its platform capabilities and potentially exploring new geographic markets or service offerings.
See full Properly company page
