PropBidder, a Denver, Colorado-based SaaS-enabled online bidding marketplace for buying and selling homes and condos, announced the closing of a $1 million in a seed funding round with involvement from Lightspeed Venture Partners, Futureland Ventures, and Sequoia Capital.

With additional participation from John Hennessy, the chairman of Google; Ray Wirta, the former chairman of CBRE and former president of The Irvine Company; Jon Oringer, the chairman of Shutterstock; and many other notable angel investors. Institutional involvement came primarily through scout investment programs, and the startup plans to raise an additional institutional led round sometime over the next year.

The new capital will help fuel PropBidder's customer acquisition on top of its already robust customer base and allow the company to scale its team and enterprise residential brokerage partners across many new and existing US metros.

Company: PropBidder Inc.

Raised: $1.0M

Round: Seed Round

Funding Month: February 2022

Lead Investors: Lightspeed Venture Partners, Futureland Ventures, and Sequoia Capital

Additional Investors: John Hennessy, Ray Wirta, and Jon Oringer

Company Website: https://www.propbidder.com/

Software Category: online bidding marketplace

About the Company: PropBidder is a SaaS-enabled online bidding marketplace for homes and condos. PropBidder's web-based software allows real estate agents, realtors, and brokers the ability to plan, manage, and participate in a variety of online bidding processes, in order to make the process of placing and receiving offers on homes more efficient and simpler, for agents and their clients alike. With PropBidder's patent-protected automated offer scoring feature, buyers and buyer's agents gain real-time feedback on their offers based on terms such as cash amount, financing, contingencies, and many other items, providing for a faster and more effortless negotiation process for all transaction participants. PropBidder is based in Denver, Colorado, with offices in Orange County and San Francisco, California.

Source: https://www.prnewswire.com/news-releases/propbidder-secures-seed-round-with-google-chairman-and-lightspeed-301486790.html