AUSTIN, Texas–(BUSINESS WIRE)–Ownwell, the main on-line answer to assist industrial and residential property house owners lower your expenses on property taxes, introduced its $5.75 million seed funding in the present day, led by First Spherical Capital. Extra buyers within the spherical embody Marvel Ventures, Founder Collective, Lengthy Journey Ventures and former PayPal board member Scott Banister.
The newest spherical brings the full raised for Ownwell to $7.5 million. Earlier buyers embody Marvel Ventures, Founder Collective, Lengthy Journey Ventures, The Fund and notable angel buyers in fintech and proptech. Each rounds had been a number of instances oversubscribed.
Ownwell identifies property house owners who’re overpaying on their property taxes and earns them reductions on their tax payments. Householders are paying billions of dollars further due to inequities in assessing property values: Ownwell is devoted to creating the prices of property possession extra equitable.
“Property house owners have rather a lot to contemplate when deciding to protest: the prices in money and time, the complexity of the method, and the entry to actual property experience and recommendation,” stated Colton Tempo, Ownwell’s CEO. “As a part of our mission to cut back the inequities of property possession, Ownwell handles the complete technique of interesting on behalf of property house owners and expenses the bottom charges presently in the marketplace. We guarantee all property house owners, no matter monetary standing, have entry to the instruments, sources, and knowledge they should handle their property taxes with confidence.”
The brand new capital shall be used to additional Ownwell’s place as essentially the most technologically superior agency within the tax protest area. The crew, which has grown by almost 7x over the previous 9 months, will speed up its hiring in all areas: gross sales, advertising, know-how, operations and native consultants to maximise financial savings for Ownwell’s prospects.
Combining the Energy of Folks and Expertise to Guarantee Truthful and Correct Property Taxes
Following a fast sign-up course of, property house owners immediately obtain a financial savings estimate from Ownwell primarily based on present gross sales and valuation information. If somebody chooses to protest their evaluation, native property tax consultants use proprietary best-in-class software program to construct the most effective case doable. Ownwell’s Financial savings-or-Free Assure means prospects solely pay if Ownwell saves them cash. The corporate estimates that almost 9 out of 10 protests are profitable, and prospects save a median of $1,457.
Over the previous 9 months, Ownwell’s buyer base has grown by 40x, with operations presently in Texas, California, Washington and Florida with additional plans to increase.
Investor Views on $5.75M Seed Funding Spherical
“First Spherical Capital is happy to again the Ownwell crew,” stated Invoice Trenchard, companion at First Spherical Capital. “Actual property is usually essentially the most invaluable asset householders and buyers personal, however it’s tough to trace and handle the rising prices of property taxes, insurance coverage, financing and extra. Ownwell is constructing a platform to assist property house owners scale back their property taxes and handle the opposite prices of possession with confidence.”
Ownwell makes a speciality of decreasing property taxes for property house owners. Annually, Ownwell analyzes tens of millions of properties to establish property house owners who’re overpaying and affords to protest their tax assessments on their behalf for simply 25% of any financial savings they can obtain. Backed by cutting-edge know-how, Ownwell’s crew of native tax consultants is on a mission to cut back unfair assessments, empowering our shoppers to take again their rightful financial savings. Go to Ownwell.com to study extra.
About First Spherical Capital
First Spherical is an early-stage enterprise capital agency that helps startups like Notion, Roblox, Uber, and Sq. deal with firm constructing firsts. From tailor-made applications and a vibrant neighborhood, to custom-built software program and content material that serves up distinctive firm constructing recommendation, the agency connects founders who’re simply getting began with the experience and sources they should make their first hires, construct their first product and discover their first prospects. Study extra at https://firstround.com.