Agent Ace Closes $6 Million Funding Round
Expands its Data-Driven Real Estate Agent Recommendations to over 75 Major U.S. Markets
SANTA MONICA, Calif., August 11, 2014-- Agent Ace, the data-driven real estate agent recommendation service, today announced it closed its Series A funding, including investments from March Capital Partners and Triangle Peak Partners, bringing its initial funding to over $6 million. The company also recently expanded its service offerings beyond Los Angeles to cover over 75 major U.S. metro areas, including Washington DC, Miami, San Francisco, Chicago, and Atlanta, with more to be added in months to come. Agent Ace is a licensed real estate broker in 43 states.
“Agent Ace has one the most innovative consumer-focused business models we’ve seen,” said Gregory Milken, Managing Director, March Capital Partners. “It solves an age-old problem of identifying the best realtors with the application of big data technology and advanced analytics.”
“Agent Ace takes the guesswork out of one of the most important decisions a person makes in their lifetime,” said Mazen Fawaz, Agent Ace founder and CEO. “We launched last year focused on the southern California market, while quietly building our geographic footprint throughout the United States. It’s exciting to see how the rest of the country is already responding to our service.”
Launched in May 2013, Agent Ace uses historic home sale data to match homebuyers and sellers with the best real estate agent for their specific home. Homeowners can trust they are getting the very best agent for their transaction, while real estate agents get a qualified client who is perfectly matched to their strengths.
Agent Ace founder Mazen Fawaz originally thought of the idea for the company while buying and developing commercial real estate. He discovered using the right agent made an enormous difference in his transactions, but there was no source for unbiased, insightful agent recommendations. He set to work building just such a resource for residential buyers and sellers.
Agent Ace does not accept advertising dollars from agents or have any sort of preferred agent group. They study the historical sales of all agents and base its recommendations purely on agent performance within a client’s specific criteria. So consumers can trust they are getting the very best agent for their transaction. On the other side of the transaction, agents receive a lead custom-tailored to their strengths and pay nothing unless the transaction closes. Agent Ace is free to customers, as its revenue comes only from the proceeds of the deal only upon closing, aligning the company’s objectives with those of the buyer or seller.
About Agent Ace:
Agent Ace gathers and analyzes data from millions of home sales to connect homebuyers and sellers with the highest-performing real estate agent for their specific home Agent Ace was founded in 2010 and holds two patents from the U.S. Patent Office for its approach to using hyper-local data to calculate agent performance relative to a specific property. After its initial consumer launch in May 2013, Agent Ace was named Most Innovative Real Estate Agent Vendor by Inman News. Agent Ace’s service is currently available to customers in over 70 markets, with more coverage being added regularly. Founded by Mazen Fawaz, the company is headquartered in Santa Monica, CA.
About March Capital:
March Capital Partners is a global investment firm, founded by four industry-leading investors who have hundreds of millions of dollars in successful venture capital and private financings. March Capital is focused on discovering breakthrough technology companies while remaining stage agnostic in its investments. March Capital is located in the epicenter of innovation and entrepreneurship in Southern California, and looks to identify and lead investments that can be the future of Internet Infrastructure, Enterprise Technology, and Information Services & Content.
About Triangle Peak Partners:
Triangle Peak Partners II, LP is focused on venture capital and private equity investments in private and public companies in the technology, energy and alternative energy sectors. It is managed by Triangle Peak Partners, LP which has $500 million in assets under management, approximately $350 million of which is in venture capital and private equity. TPP has offices in Carmel, Palo Alto and Houston. For more information, visit www.trianglepeakpartners.com.
Laurie Jakobsen, 646-484-6764
Venture Capital Database