Munich Re-backed property inspection marketplace nabs funding for expansion

Munich Re Ventures’ HSB Fund has invested in a Seattle-based start-up that is making property inspections easier through its proprietary software, and planning to roll out new verticals for insurance carriers.

Property inspection marketplace and software platform Inspectify has raised $8 million in Series A funding, led by Nine Four Ventures. The round included participation from a consortium of VCs and strategic investors, including Foundation Capital, the HSB Fund of Munich Re Ventures, Redfin and Socially Financed, as well as PropTech founders/executives Chase Gilbert and Nichole Wischoff (Built Technologies), Guy Gal (Side), Josh Stech (Sundae), Tushar Garg (Flyhomes), and Darren Nix (Steadily), among others.

The start-up plans to use this funding to accelerate the development of its technology and “supercharge” growth among its real estate partners. It also wants to launch new verticals with lenders, insurance carriers, appliance OEMs, and home services providers. Inspectify’s vision is to be the “API of the home”.

Inspectify leverages its proprietary software to customise and integrate the data found within a home for individuals, institutional investors, and iBuyers well beyond the scope of a traditional property inspection.

“Inspections provide the most comprehensive and complex view of a home, yet the data is extremely unstructured and underutilized,” explained its founder and CEO Josh Jensen. “We're challenging the status quo of a static PDF report to provide a higher quality inspection and better data that lives on with the property.”

Kurt Ramirez, general partner at Nine Four Ventures, said: “Data from inspections has long been underutilised due to the fragmented nature of the industry. Inspectify's approach allows exponentially more fidelity and structuring of property data that is poised to fundamentally change how real estate is bought, sold, and managed. In just under two years, they have partnered with some of the most prominent real estate brands in the world, proving they have filled a massive need in the space.”

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