This founding round, which brings the total money Nestio has raised since launching in 2011 to $ 16 million, was led by real estate venture capital firms Camber Creek and Trinity Ventures. Both firms are major investors in startups that use technology to bring something new to real estate.
“Nestio is in a unique position to bring much needed advancement and efficiency to real estate markets across the country,” said Nestio’s founder and CEO Caren Maio in a statement. “Our platform has massive ROI for our clients, and we have established ourselves as the leader in premium technology solutions for owners and managers that deliver real results.”
The company lets property owners who manage many rental listings at once track their rentals and advertise new listings across the web. Other investors include well-known developers such as Rudin Ventures, Currency M, The Durst Organization, LeFrak Ventures and Torch Venture Capital.
Older investors like Freestyle Capital and Lazerow Ventures have also contributed in the latest round.
The fact that investors beyond those interested in real estate tech are supporting Nestio could be an indication of its growth in the real estate world — since launching, Nestio has arranged over $ 600 million of transactions in cities like New York, Boston, Chicago, Houston and Dallas.
“We are constantly looking for new companies that are forward thinking and that are tackling major inefficiencies in our industry in exciting and innovative ways,” said Michael Rudin, senior vice president at Rudin Management, in a statement. “We are looking forward to expanding our relationship with them and working with the other investors in this round — some of the most forward–thinking companies in our industry.”