Redfin Corporation, a Seattle, WA-based online real estate brokerage, has raised $14.8m in funding.
The round was led by Globespan Capital Partners, with participation from existing investors Madrona Venture Group, Vulcan Capital, Draper Fisher Jurvetson and Greylock Partners.
This investment brings the total amount raised by the company to date to $46m.
Redfin intends to use the funding to launch its service in new cities and to continue to invest in research and development.
In conjunction with the deal, Globespan Managing Director Venky Ganesan is joining the company’s Board of Directors.
Led by CEO Glenn Kelman, Redfin combines a customer-focused team of real estate agents with online tools. Its agents handle the different aspects of a transaction, including tours, pricing analyses, negotiations, inspections and closings. Redfin features listings direct from broker databases as well as for-sale-by-owner and foreclosure properties from across the Internet.
The service is available in the metropolitan areas of Atlanta, Austin, Baltimore, Boston, Chicago, Dallas, Denver, Las Vegas, Phoenix, Portland (Oregon), Seattle, Washington DC, New York’s Long Island and Westchester County as well as most of California, including the San Francisco Bay Area, Sacramento, Los Angeles, Orange County, San Diego and Palm Springs.