PropTech firm eMoov has closed a £9m Series B, bringing its total raised to date to £15m.
Founded in Brentwood (Essex), eMoov’s round was led by JXC Ventures and attracted funding from investors including Episode 1 VC, Maxfield Capital, Spire and Startive Ventures.
The firm, which describes itself as a “hybrid estate agent”, will use the cash to expand its proprietary technology platform and to boost its marketing spend.
Russell Quirk, founder and CEO at eMoov said: “The estate agency space is changing drastically and we have always been at the forefront of that change since we launched in 2009. During this time, we’ve watched the online/hybrid sector evolve to become well established with market share more than doubling in the last two years.
“During this time, we’ve been focused on building a superior technology platform; hiring an unbeatable management team and providing the best customer service in the industry. With these strong foundations in place, we now feel it’s time to accelerate our growth through a clever and sustained marketing investment strategy.
“We’ve been more considered than some in our methodology and therefore, we will emerge and remain as one of the few estate agency disruptors that are actually sustainable. Expect more big announcements from us in the coming weeks.”
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James Cox, principal at JXC Ventures explained why his firm invested in the company: “Having followed the PropTech sector for a number of years, eMoov was the first company that really ticked the boxes for us. Their unrivalled tech platform allows for rapid growth, with a focus on optimisation rather than removing the human element from what is still a ‘people business’.
“The new marketing team, along with investment leveraging this strong core, will create significant shareholder value over the years to come as the market shifts towards the online sector even more rapidly,” concluded Cox.
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