Open Listings announced it has secured $6.5 million in Series A financing. Three investors participated in the round: Matrix Partners, Initialized Capital, and Arena Ventures.
Open Listings helps anyone buy a home without individual real estate agents. Buyers use the company’s self-service platform to manage the process online and get paired with experienced local agents who support them from negotiations to close. Customer get a 50 percent refund of the 6 percent commission that would typically go to their agent.
In its announcement, the company said the team currently has 23 full-time employees based out of Los Angeles who are licensed to buy homes in California and Washington state, with two additional states to be added by the end of the year.