The most promising companies and technologies are often formed during economic downturns. Proxio is one such company, and Lighter Capital is pleased to welcome them to our portfolio. The Silicon Valley-based and VC-backed real estate tech startup was launched in mid-2008 at the bottom of the housing market.
Proxio offers a unique global marketing and collaboration platform for real estate professionals to network and promote themselves and their listings. Its B2B2C (business to business to consumer) platform is “LinkedIn meets MLS” and has over 3 millions listings from over 100 countries serving 700,000+ real estate professionals. The widely used platform operates in 19 languages and 55 currencies, enabling agents to connect and share listings regardless of language or geography.
“Janet was great to work with and is an outstanding entrepreneur,” says Jon Prentice, Investment Associate at Lighter Capital. “Proxio’s management team has extensive experience in this vertical, and the company is uniquely positioned to benefit from a rebounded and increasingly globalized real estate market. Its collaboration platform with real-time translation opens new opportunities for real estate agents around the world.”
“The Lighter Capital process was surprisingly quick, taking just 6 weeks from application to funding,” says Proxio CEO, Janet Case. “And as a tech company, we appreciated that the whole process was done online, which minimized the work. The speed and simplicity meant a lot to me, since time is my most valuable resource. ”
Post-recession, Proxio’s business is thriving and addressing a significant need in a marketplace where business relationships are built and brokered online. Lighter Capital’s funding will go towards accelerating sales and business development efforts.