We’re excited to announce our follow on investment in Inspectify’s new $5.76M round led by customer and strategic investor Fundrise. Nine Four Ventures is excited to continue supporting Josh, Denis, and the entire Inspectify team on their vision to build a category defining home inspection marketplace and platform offering fair, fast, and more consistent inspections in a tech-driven, streamlined way.
Fundrise is a long-time Inspectify customer that understood the company’s performance and long-term potential. Fundrise has built an investment platform with 2M registered investors that own more than 20k residential units valued at more than $3B, and brings a unique captive audience that’s strategically relevant to Inspectify. Fundrise invested out of its new Innovation Fund, a registered VC fund that provides individual real estate investors access to private tech companies like Inspectify.
We’re excited for this new partnership to blossom and to see how Inspectify’s new products and services will positively impact promising new growth areas. Inspecify has traditionally focused on buying and selling transactions on behalf of institutional investors, but it’s exciting to see promising early adoption in more nascent areas like insurance, lending (including construction and renovation draws), and property management.
Another exciting growth area for Inspectify is Build-to-Rent (“BTR”). BTR refers to single family home communities that are built for the purpose of being rented, not sold, after completion. Hunter Housing Economics projects that 250k+ new BTR homes will be completed in the US by the end of 2024 which could provide affordable housing relief in the near term but also a promising opportunity for Inspectify to bring additive and much needed efficiencies to the homebuilding and property management process.
We believe Inspectify’s recent progress and its robust product roadmap serving myriad use cases and stakeholders positions them well for success. Although the team has accomplished a lot, they still have plenty left to execute on. If you’re a broker, insurer, investor, lender, or property owner and interested in becoming a customer, please reach out. And if you’re interested in helping build the future of home inspections, Inspectify is hiring!
Congrats Josh, Denis, and the entire team on this milestone!