Buyside, a real estate provider of homebuyer intent and seller leads, announced $10 million in equity funding and a name change, Yahoo Finance reported.
Buyside will become Percy, named after the company’s first investor—and the founder’s great uncle—and has been the name of the engine behind its consumer engagement platform.
The platform uses artificial intelligence to identify consumer intent and allows agents, brokers and now mortgage lenders to engage their consumers at the right time for their next opportunity.
Percy has seen “remarkable growth” and currently serves brokers representing 60% of all transactions in real estate, the article said. In the first quarter of 2022, the productivity of the application showed a 36% increase in homeowner subscriptions and a total of $71.7 billion in transaction opportunities, up almost $20 billion from Q1 2021.
Investors in the strategic funding round include Howard Hanna Real Estate Services and Leading Real Estate Companies of the World. Percy intends to use the investment to dedicate marketing, sales and systems integration resources to fuel revenue growth and expansion, the article said.