Purlin closes the seed round and A
LOS ANGELES, January 11, 2022 (GLOBE NEWSWIRE) – Purlin Co. (www.purlin.com) announced today that New Valley Ventures, the real estate technology investment vehicle of Douglas Elliman Inc. (: DOUG), with Redwood Trust Inc. (: RWT), through its strategic venture capital investment platform, Horizons RWT, and angel investors, affiliated with the Band of Angels, have invested a total of $ 1.5 million in the AI-driven real estate and fintech startup. Along with the investment, Douglas Elliman announced that it has signed an agreement under which Purlin’s technology will power the systems used by their 6,600 agents and 46,000 annual customers.
“Purlin is a central part of our strategy to use technology services to simplify our agent’s AI and home search operations while delivering great shareholder value,” said Scott Durkin, CEO of Douglas Elliman Realty, LLC. Dan Sachar, Managing Director of New Valley Ventures, added, “Purlin challenges the status quo through innovation that enables high quality service. Purlin’s AI platform will help all Elliman agents build and run their businesses and set the bar for the best. intelligently personalized classroom-based housing search experiences. “
Purlin is the first company to combine AI, machine learning and natural language processing with image recognition to sort through millions of ad photographs and identify specific pieces, features and styles that will appeal to the customer. more to a given buyer. The result is a customer experience where buyers see the homes they want to buy, rather than the endless tide of listings, within a given price range and geography provided by traditional search sites.
Purlin’s technology platform is also the first to enable listing agents to proactively identify and directly engage active buyers most likely to purchase a specific property by efficiently running that same consumer preference engine. Upside down. This represents a sea change in the way agents market lists and attract customers both in terms of process efficiency and service levels.
RWT Horizons’ strategic investment validates Purlin’s roadmap as the company leverages its platform to support the entire home buying process. “Purlin’s AI platform has the potential to transform the most important transaction for most people, and that is the buying or selling of their home,” said Ryan McBride, chief investment officer of RWT Horizons and COO of CoreVest, a division of Redwood Trust. “Purlin’s technology extends beyond the brokerage to escrow, title and mortgage financing. The company’s platform has the potential to disrupt the status quo and this aligns with our RWT Horizons portfolio and our overall strategy of leveraging technology to transform the way parties trade across the board. real estate and financial sectors. We are excited about the current and potential advancements Purlin’s technology brings to the home buying process. ”
“A few years ago, we embarked on a mission to deliver on the promise of AI in real estate, to improve the experience for buyers and sellers, the brokers they serve and all who touch. to the transaction. Our new partnerships with Douglas Elliman and Redwood Trust prove that our mission and our roadmap resonate, ”said Giorgi Chigogidze, CEO of Purlin.
“Our team has unique end-to-end capabilities ranging from designing engaging user experiences to first-party data generation,” said Ilya Dorfman, CTO and CISO at Purlin, adding, “This allows us to harness the full power of AI in real estate. “
“Purlin is reversing the real estate script by using AI to enable agents to increase the emotional value of customer experiences beyond expectations,” said Chris Steege, CMO and CSO of Purlin, concluding that “the emotional value proposition always wins “.
ABOUT PURLIN CO.
Purlin Co. designs, creates and delivers advanced AI solutions for the real estate market. Major brokerages, agencies, lenders, and other companies involved in real estate transactions can use Purlin’s AI platform to grow their businesses and create superior customer experiences. For more information, please visit www.purlin.com. Contact: Chris Steege, 415-787-5462,
ABOUT DOUGLAS ELLIMAN INC
Douglas Elliman Inc. (: DOUG) is one of the largest residential brokerage firms in the New York metropolitan area, which includes New York, Long Island, Westchester, Connecticut, New Jersey and the Hamptons, and sixth in the States United, with major companies in California, Colorado, Texas, Florida and Massachusetts. In addition, Douglas Elliman researches, uses and invests in early stage Disruptive Real Estate Technology (“PropTech”) solutions and companies and provides other real estate services including development marketing, property management and services. settlement and escrow in certain markets. Additional information about Douglas Elliman is available on his website, www.elliman.com.
ABOUT REDWOOD TRUST
Redwood Trust, Inc. (: RWT) is a specialty finance company focused on several distinct areas of home finance. Our operating platforms occupy a unique position in the housing finance value chain, providing liquidity to growing segments of the US housing market not served by government programs. We offer personalized home loan investments to a diverse mix of investors, through our premier securitization platforms; full loan distribution activities; and our publicly traded stocks. Our consolidated investment portfolio has evolved to incorporate a diverse mix of residential, commercial and multi-family investments. Our goal is to provide attractive returns to shareholders through a stable and growing stream of earnings and dividends, capital appreciation and a commitment to technological innovation that facilitates the risk-driven scale. Since our IPO in 1994, we have managed our business through several cycles, building a track record of innovation and a reputation for top-notch service, and a sensible approach to investing in credit. Redwood Trust is managed internally and structured as a Real Estate Investment Trust (“REIT”) for tax purposes. For more information on Redwood Trust, visit the Redwood website at www.redwoodtrust.com or contact us on LinkedIn, Twitter, Where Facebook.
ABOUT RWT HORIZONS
RWT Horizons is Redwood Trust’s strategic venture capital investment platform focused on early and mid-stage companies that drive innovation in financial and real estate technologies, digital infrastructure and other areas of business. related interest. Investments made through RWT Horizons are designed to support companies whose technologies contribute to Redwood’s broader operations, including its residential and commercial lending platforms. For more information on RWT Horizons, visit the RWT Horizon website at www.rwthorizons.com.
Forward-looking statements: This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve many risks and uncertainties. Our actual results may differ from our beliefs, expectations, estimates and projections and, therefore, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements are not historical in nature and may be identified by words such as “anticipate”, “estimate”, “will”, “should”, “expect”, “believe”, “intend” “,” Seek “,” “plan” and similar expressions or their negative forms, or by references to a strategy, plans or intentions. These forward-looking statements are subject to risks, uncertainties and factors that could make so that actual results differ materially from those projected.We assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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