NM Future Ventures backs AI real estate company OJO Labs

Austin-based AI startup OJO Labs has closed on a $62.5 million funding round led by Wafra, with participation from Breyer Capital, LiveOak Venture Partners, Royal Bank of Canada, and Northwestern Mutual Future Ventures . This latest round brings the company’s total funding to $134 million.

Founded in 2015, OJO Labs offers a proprietary personal assistant technology to deliver personalized property recommendations and to guide homebuyers and sellers along their journey. It also announced the acquisition of Movoto, a residential real estate search site with ~24 million monthly visits.

“The Movoto team is as obsessed with consumer experience as we are at OJO Labs. It is the company’s ability to optimize search based on consumer behavior and engagement that has enabled them to compete with three massive, publicly traded companies while steadily gaining market share since 2018. Movoto’s consumer-first search site combined with OJO Labs’ AI advisor marks a completely new experience that will change the way we buy and sell homes forever.” – John Berkowitz, CEO and Co-founder of OJO Labs.

“The way people buy and sell homes is changing. This evolution has been expedited by recent events, and the real estate industry is on the cusp of something new in the wake of COVID-19. With a clear vision for the future and the technology to back it up, I believe OJO Labs is poised to be a leader in the next era of the homebuying industry.” – Jim Breyer, Founder and CEO of Breyer Capital, a premier venture capital firm, and former Facebook and Walmart board member.