Technology

Texas-based OJO Labs raises $20.5 million to bring AI to real estate

Realogy backs second tech company this week
A group of real estate, financial services, and home services companies are joining together to help bring artificial intelligence to real estate and beyond. Austin, Texas-based OJO Labs announced on Friday that it raised $20.5 million in its Series B funding round. Taking part were Realogy, Royal Bank of Canada, Northwestern Mutual Future Ventures and ServiceMaster.
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Accel-KKR acquires fintech veteran Sageworks

Accel-KKR seeks to increase presence with new acquisition
Sageworks, which is one of the country’s first fintech companies, announced it has been acquired by private equity firm Accel-KKR, which primarily invests in software and technology-enabled services businesses.
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Property management tech provider Mynd raises $20 million

Company founded by former Waypoint Homes founders Doug Brien, Colin Wiel
Property management technology provider Mynd announced this week that it raised $20 million in its Series B funding. Mynd was founded in 2016 by Doug Brien and Colin Wiel, who previously founded Waypoint Homes, a single-family rental operator that eventually grew into the largest player in the industry.
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Bank of America enlists AI to pay your mortgage

Erica introduced to bank’s mobile clients
Bank of America announced Friday the release of its artificial intelligence-driven virtual assistant to assist mobile customers with their financial services. The virtual assistant, Erica, is still learning and becomes smarter the more she is used.
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Notarize raises $20 million, with help from housing giants Lennar and Realogy

Venture arm of National Association of Realtors also took part in funding round
Notarize, a digital platform that allows for legal, online document notarization, announced this week that it raised $20 million in its Series B round of funding. The capital raise nearly doubles the amount of money the company has raised so far. But what’s more interesting than Notarize raising $20 million is where the money is coming from.
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Movement Mortgage CEO: Robots will not replace loan officers

"You can't automate empathy"
In the most recent episode of “The Winner’s Circle”, HousingWire Editor-in-Chief Jacob Gaffney discusses a range of issues with Movement Mortgage CEO Casey Crawford, from how to increase black homeownership to how technology is changing mortgage lending. When asked about the application of artificial intelligence and automation in lending, Crawford said he anticipates that every tactical element is going to be automated but he reminds us that there is no replacement to human interaction.
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Cloudvirga raises $50 million in Series C funding round

Series C funding round led by private equity firm Riverwood Capital
Digital mortgage point-of-sale software provider Cloudvirga announced it raised $50 million in its Series C funding round, led by private equity firm Riverwood Capital. The company said the new round of funding will support its mission to “help lenders reduce record-high loan production costs via automation and empower borrowers with greater transparency and engagement in the mortgage transaction.”
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Direct homebuyer Perch raises $30 million to fund expansion

Currently available in San Antonio, Texas
The move towards institutionalizing the home-flipping business has another player: Perch. The company, which is based in New York, launched recently and is currently buying houses directly from homeowners and selling those houses in San Antonio, Texas. The company plans to grow beyond San Antonio and has secured $30 million in funding to power that growth.
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