Chilean proptech startup Houm has raised $35 million in a Series A round led by Silicon Valley venture capital firm Goodwater Capital. Fifth Wall also participated in the financing, along with existing backers OneVC, Elad Gil, Liu Jang and new investors Fen Ventures, Broadhaven and Rahul Mehta, managing partner at DST Global. With the latest round, Houm has raised a total of $45 million since its inception. Santiago-based Houm plans to use the new capital mostly to expand to 15 new cities across Mexico, Colombia, and Chile — the three countries in which it currently operates — as well as to triple its current headcount of 350. The startup had used its seed capital to expand and consolidate in Bogota, Colombia, and Mexico City. Houm has seen its revenue grow by over 11x in the last year, a metric that exceeded its own expectations, although it did not reveal hard revenue figures. The company is not yet profitable as it is currently focused on growth.
Houm offers an online service that helps homeowners rent and sell properties “up to 10 times faster,” it claims, than traditional methods. Rather than using realtors, it relies on “Houmers,” self-employed professionals who prepare properties for sale or lease, and then manage them. Houmers make money each time a home they worked on is sold or rented. Houm offers services to both landlords and tenants. When a property owner decides to put his or property up for rent or sale, Houm commissions a Houmer to take professional photographs and videos, at no cost to the proprietor. The Houmers also inspect the house or apartment so that prospective clients can feel more secure in their decisions. The properties are then published on real estate online marketplaces within 24 hours. Houm also invests in digital marketing, to provide greater visibility and access to customers. Once the property is published, Houm provides tours to prospective renters of buyers, either virtually or in person. The startup also developed an AI algorithm called ReV, which allows clients and owners to instantly know the optimal rental or sale price of any property based on other similar properties in the area they are considering.