Real estate technology platform Entera announced Monday that it raised $7.5 million in funding.
Entera provides an AI and machine learning-powered real estate investment platform that helps investors target single-family homes for acquisition.
This round of funding was led by Bullpen Capital and Craft Ventures, with participation from ValueStream Ventures and former Keller Williams CEO Chris Heller.
Heller is also the former CEO of mellohome, loanDepot’s attempt to serve as a one-stop-shop for “buying, financing, and improving homes.”
Heller left mellohome earlier this year to become the first chief real estate officer of OJO Labs, a real estate technology startup whose flagship product is an AI-based conversational assistant that is currently being used in the real estate industry.
According to a release, Entera plans on using this capital to expand its technology platform and expand its team.
“Real estate markets have long since moved online, but prior to Entera, there was no unified platform designed for professional real estate buyers and funds, a large and growing segment, to find, price or transact,” said Eric Wiesen, general partner at Bullpen Capital. “As more professional capital moves into residential real estate, companies like Entera, who provide leading technology and tools and a highly experienced team will play a critical role.”
Entera offers access to on- and off-market properties at scale, machine learning discovery, decision tools, and local tech-enabled transaction services.
“Similar to brokerages like E-Trade and Charles Schwab, Entera delivers 100% cloud-based enterprise level solutions that enable investors to make the best decisions and buy with ease,” said Entera Co-founder and CEO Martin Kay. “With hundreds of thousands of available properties, our platform unlocks billions of dollars of investment capital looking to enter residential real estate in a meaningful way.”