Inspectify raises $8 million
Property inspection marketplace and software platform Inspectify has closed an $8 million Series A round led by Nine Four Ventures. The round included participation from Foundation Capital, the HSB Fund of Munich Re Ventures, Redfin and Socially Financed, as well as several proptech founders/executives including Chase Gilbert and Nichole Wischoff (Built Technologies), Guy Gal (Side), Josh Stech (Sundae), Tushar Garg (Flyhomes), and Darren Nix ( Steadily ).
Founded in 2019, Inspectify enables home buyers to book home inspections. The startup also offers Inspection Protection, which covers certain structural components in the inspection for one year after the sale of the home and up to a total of $100K. The product protects home buyers in the event in which certain structural components are misclassified as operational in the inspection report. Inspection Protection is offered by Hippo and in order to be covered, the pre-listing inspection must have been conducted by one of Inspectify’s pre-approved inspection partners.
Over the last 12 months, the company has grown by over 2500%, “earning the trust of prominent real estate companies” such as Redfin, Fundrise, Flyhomes, Sundae, Homie, Homelight, Properly, Mynd, Roofstock, and Orchard, also among others. The funding will allow Inspectify to supercharge growth among its real estate partners and help launch new verticals with lenders, insurance carriers, appliance OEMs, and home services providers.
“Inspections provide the most comprehensive and complex view of a home, yet the data is extremely unstructured and underutilized. We’re challenging the status quo of a static PDF report to provide a higher quality inspection and better data that lives on with the property.” – Founder and CEO Josh Jensen.
“Data from inspections has long been underutilized due to the fragmented nature of the industry. Inspectify’s approach allows exponentially more fidelity and structuring of property data that is poised to fundamentally change how real estate is bought, sold, and managed. In just under two years, they have partnered with some of the most prominent real estate brands in the world, proving they have filled a massive need in the space.” – Kurt Ramirez, general partner, Nine Four Ventures.