Funding round for the AI-powered tech company was led by HearstLab and Hearst Newspapers with participation from VC 414 and StageNext
New York, NY, December 19, 2024 (EZ Newswire) -- Today, UNLISTED, the AI-powered real estate technology company specializing in off-market and private home sales, announced it closed $2.25 million in seed financing. The funding round was led by HearstLab with additional participation from VC 414 and StageNext, and underscores the company's innovative approach to real estate designed to reveal more opportunities for homeowners, home buyers, and their agents.Currently, less than 5% of homes are listed for sale in any given year. By dynamically connecting off-market homeowners, buyers, and their real estate agents through insights and communication tools, UNLISTED's proprietary AI and machine learning technology significantly expands the market by over 10x to include the 66% of homes that are potentially available but not publicly listed.
"Historically, real estate is treated as an all-or-nothing proposition—a home is either for sale or it is not," said Katie Hill, founder and CEO of UNLISTED. "The reality is, homeowners are often open to selling for years but dread the listing process so they put it off.”
UNLISTED allows homeowners to digitally claim their home then subtly gather interest from buyers without the pressure that comes with listing. UNLISTED matches off-market homeowners and buyers whose terms and timelines align. “We’re not a brokerage, we stay out of the transaction and we don’t take commission. We’re a discovery tool, an easy, elegant solution that creates more options and more wins,” Hill explains. “The solution is additive for the entire industry including homeowners, buyers, agents, mortgage, title, really anyone who touches residential real estate.”
UNLISTED is free for homeowners and charges a nominal fee to buyers who want to start a conversation with a homeowner. Most of the company’s revenue comes from real estate agents who pay for the service on behalf of their buyer clients looking for off-market options.
The $2.25 million financing was led by HearstLab, which invests exclusively in women-founded technology companies and Hearst Newspapers, which reimagines how readers receive and use news content. Bridget Williams, Chief Product & Strategy Officer at Hearst Newspapers, stated, "This partnership allows us to reinvigorate local real estate reporting by offering readers deeper, more engaging market engagement." HearstLab Chairwoman Eve Burton added, “As part of the growth strategy for UNLISTED and Hearst Newspapers we have created a partnership that will allow UNLISTED products to enter a nation-wide ecosystem of newspapers, local digital marketing services businesses and directories, to enhance local real estate market coverage. The collaboration aims to provide readers with unprecedented insights into local housing trends, upcoming sales, and granular property-level data.”
The Hearst Newspapers collaboration marks a return to media for the UNLISTED founder. Hill first cut her teeth at Leo Burnett, a global advertising agency, where she developed a passion for building transformative technologies. A two-time founder and former entrepreneur-in-residence, Hill has a track record of entrepreneurial success, including winning pitch competitions at the University of Chicago's Polsky Center and becoming the first two-time winner of the Flyer Pitch at the University of Dayton. Hill also won $100,000 at Pitch HearstLab in front of a crowd of more than 200 at Hearst Tower in New York this past April. That win led to the partnership with Hearst Newspapers and the recent investment from HearstLab.
Prior to this raise, UNLISTED has been funded by angel investors and advisors who have demonstrated successful disruption and big exits. The company’s closest advisor, Bill O’Donnell, served as Chief Architect on the founding team at KAYAK where he helped lead the company from idea to a $2 billion IPO. “Real estate is generally not that great of an experience. That’s no secret. It’s fun to be part of a project bringing new ideas and new technology to age-old challenges,” said O’Donnell.
UNLISTED arrives at a critical moment in real estate, addressing challenges like historically low housing inventory and significant regulatory changes. Recent modifications to commission structures and rules around advertising homes for sale, create an opportune environment for innovative solutions. UNLISTED partners with luxury real estate agents across the country and plans to launch several new products aimed at better equipping agents to navigate the off-market on behalf of their clients who prefer private transactions.
“UNLISTED is like nothing we have ever seen before. The platform allows agents to gain real insight into the market and tap into the 95% of homes not actively listed for sale. Additionally, Unlisted maintains all the information in a way that becomes increasingly more valuable over time, providing a distinct advantage for the agent to outperform for their clients.” said Melanie Hayes, agent, Heider Real Estate, TTR Sotheby’s International Realty and UNLISTED advisor.
About UNLISTED
UNLISTED is an AI-powered real estate technology platform designed to reveal off-market property opportunities. By leveraging machine learning, the company creates more dynamic, efficient market opportunities for buyers, sellers, and real estate professionals. For more information, visit https://unlistedhomes.com.
Media Contact
Sophia Jacomet
+13125190743
sophia@unlistedinc.com
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