Perchwell is a proptech company based in New York City, specializing in providing modern data and workflow platforms for the residential real estate industry. Founded in 2015 by CEO Brendan Fairbanks, Perchwell has developed innovative tools aimed at streamlining the real estate process and enhancing the efficiency of Multiple Listing Services (MLSs) and brokerages. As of the latest reports, it has raised substantial funding, recently securing $25 million in a Series B round led by Lux Capital in 2024 to expand its AI capabilities and broaden product delivery.
| Attribute | Information |
|---|---|
| Founding Date | 2015 |
| Headquarters | New York City, New York, USA |
| Founders | Brendan Fairbanks |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Lux Capital, Founders Fund, Starwood Capital |
| Industry | Proptech, Real Estate Technology |
| Number of Employees | Approximately 48 (as of June 2024) |
Perchwell began in 2015, aiming to revolutionize the residential real estate industry through advanced data and workflow solutions. Brendan Fairbanks, leveraging his experience in finance and tech, saw an opportunity to disrupt traditional real estate software by providing more user-friendly and integrative tools for agents and brokers. Perchwell quickly gained traction within New York City, partnering with major local brokerages like Sotheby’s International Realty, Berkshire Hathaway HomeServices, and Serhant. The platform's initial success led to its selection by the Real Estate Board of New York (REBNY) to manage its Residential Listing Service, a significant milestone that enhanced Perchwell’s credibility and usage in one of the world's most competitive real estate markets.
Perchwell operates on a business model that centers around providing a comprehensive software suite tailored for the residential real estate sector. This suite combines market analytics, client management, and listing services to offer an all-in-one solution for real estate professionals.
Currently, Perchwell is positioned as a leading real estate technology provider, particularly strong in developing AI-driven solutions to enhance the real estate process. By offering tools that facilitate seamless information exchange across various systems and services, Perchwell continues to be a valuable asset for MLSs and brokers. Its strategic focus remains on expanding its reach and leveraging partnerships with major MLSs to increase its footprint across the United States. The company strives to secure its position against competitors like CoreLogic and Black Knight by continuously innovating its offerings.
Perchwell's journey highlights its commitment to transforming the real estate technology landscape with innovative solutions that address the complex needs of agents, brokers, and MLSs. With robust backing from significant investors and strategic partnerships with leading MLSs, it is poised to continue its expansion and innovation efforts. As the real estate industry evolves, Perchwell’s focus on AI-driven enhancements positions it as a pivotal player in shaping the future of real estate technology, promising further growth and an expanded role in the broader U.S. market.