TX Group invests in leading Proptech PriceHubble
PriceHubble AG, the fast-growing global PropTech founded in Switzerland in 2016, successfully completed its Series B round and raised USD 34 million in new funding. Digital+ Partners led the investment round with significant investments from Latitude Ventures, TX Ventures, and selected business angels, including Dr. Martin Enderle. The round was met with a strong demand from the existing investor base, among them Swiss Life and btov/Helvetia Venture Fund.
PriceHubble, the globally leading AI analytics and data company for the residential estate industry, successfully completed its Series B investment round, raising USD 34 million in new funding. Founded by Dr. Stefan Heitmann and Markus Stadler in Zurich in 2016, PriceHubble has experienced a fast and successful development and is now active in nine markets: Switzerland, France, Germany, Austria, Japan, Netherlands, Belgium, Czech Republic and Slovakia. Its rapidly growing customer base in Europe and Asia consists of more than 800 companies and has tripled over the last twelve months. PriceHubble currently employs over 130 specialists.
«The entire PriceHubble-team is extremely proud to announce this successful Series B funding. It is a major milestone towards accomplishing our vision of becoming the undisputed leader in data-driven digital solutions for real estate and finance in Europe and Asia,» states Julien Schillewaert, CEO of PriceHubble.
PriceHubble is working to radically improve the customer experience across the real estate and mortgage value chain by developing data-led and machine learning-based real estate products with a focus on valuations, predictive analytics and actionable insights, all embedded in a state-of-the-art visualisation. PriceHubble’s products and tools provide a new level of market transparency and enable PriceHubble’s B2B customer base to leverage the power of big data analytics for them and their end customers, ultimately achieving a higher level of transparency and smarter real estate decisions.
The financing round was strongly oversubscribed and was led by Digital+ Partners, the leading European Growth Equity Investor focussed on international B2B Software investments. Furthermore, Latitude Ventures, the Series B+ sister fund of LocalGlobe, the London based VC with a very successful multi-year growth track in supporting high growth start-ups, and TX Ventures from Zurich, TX Group AG’s venture arm, joined the round among high ranking business angels, including Dr. Martin Enderle, Chairman of Delivery Hero and former CEO of Scout24 Group, and strong support from existing investors, such as Swiss Life and btov/Helvetia Venture Fund.
PriceHubble will use the funds from this investment for its growth and expansion strategy, as well as to further extensively innovate in data science resources. Dr. Stefan Heitmann, Founder and Chairman of the Board of Directors of PriceHubble AG, adds: «With this new capital, PriceHubble can further accelerate the global market expansion and continue expanding our technology leadership in data driven solutions for the real estate and finance markets. It is one of the largest B-rounds in the European PropTech scene and I would like to thank both our existing and new investors for their trust and strong commitment.»
«By successfully operating in nine international markets, we believe that PriceHubble is very well positioned to become the international category leader in residential real estate analytics,» states Patrick Beitel, Co-Founding Partner and Managing Director at Digital+ Partners. «In combining an excellent team, a mature technology-driven organisation and best-in-class UX, PriceHubble is ideally equipped to accelerate further growth opportunities, attract further top talent and scale-up the go-to-market organisation internationally.»
«Even though the marketing of real estate was first digitised more than a decade ago, many aspects of the sales and valuation process remain resolutely analogue meaning that each stage in the transaction process is fragile. PriceHubble is bringing data-driven valuation and predictive analytics to the sector to fix many of the problems that exist in real estate markets, increasing price transparency and ultimately serving buyers and sellers better. We have been hugely impressed by Julien and the PriceHubble-team and are excited by the ambitions they have set themselves,» adds Remus Brett from Latitude Ventures.
Jens Schleuniger, Head of Portfolio Management at TX Ventures, comments: «PriceHubble's software-as-a-service solution is a game changer in the real estate market. We were highly impressed by the team, the traction and the incredibly user-friendly interface that allows its users to determine a fair market value for a specific property within just a few clicks!»