HomeBay Raises $5 Million

Real Estate startup HomeBay closed $5 million in financing. Three investors participated in the round: E15VC, Foundation Capital, and Serra Ventures.

HomeBay’s mission is to make it easy for homeowners to market and sell their properties without the use or cost of a listing agent. Homeowners can list their homes for sale in less time than it takes to meet with a realtor. HomeBay then syndicates their listing to real estate sites, ranging from Zillow, Trulia, Yahoo! Homes and Realtor.com to thousands of local agency and brokerage sites. Sellers can manage their listings, tasks, open houses, showings, and incoming offers directly from their dashboards. They can also receive and counter buyer offers with guided, in-form intelligence that is localized to their zip codes. This guided transaction experience is akin to using TurboTax, but applied to real estate forms.

The company revealed that the funds raised will be used to accelerate a California-wide expansion and to launch the technology in Florida.