Trulia, an online real estate search site that pools property listings from California brokers, with plans to expand nationwide, has received an injection of $5.7 million in investor funding.
Co-founder Pete Flint said that the Series B financing, from venture capital firm Accel Partners, is an endorsement of the company’s business model. Flint said the company has plans to hire “some leading talent” from the real estate industry and technology industry, and the financing will also support the company’s marketing efforts.
Accel Partners, which has offices in Palo Alto, Calif., and London, England, also has supported such ventures as RealNetworks, comScore Inc. and WalMart.com.
Trulia is continuing to work to build relationships within the brokerage industry, Flint said, and to promote a business model that is “industry-friendly and broker-friendly.” (See Inman News article on Trulia.)
Flint added, “We are looking to work with some very experienced people … (and) to help build out something which is great for brokers and agents and great for consumers.”
There are no plans to pay for real estate listings information, he said. Listings information displayed at Trulia.com is pulled from other Web sites, and Trulia posts links back to brokers’ Web sites.
Formed by Stanford grads, Trulia offers property listings that are integrated with a Google-based mapping platform. The site offers calculations of average house prices for cities selected by users, and search results can be customized by price, number of bedrooms, number of bathrooms, square footage, and housing type.
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