Rex, a Woodland Hills, CA-based platform to buy and sell a home, secured $45m in Series C funding.
The company intends to use the funds to accelerate national expansion and add to its service offerings.
Led by Jack Ryan, co-founder and CEO, Rex leverages AI and big data to provide residential real estate brokerage services. It offers a fixed two percent commission covering both sides of the transaction and a professional team handling everything from listing to close, including escrow, titling, mortgages and insurance shopping.
In 2018, the company expanded to Colorado, Texas, Northern California and New Jersey from Southern California and New York. Rex also began offering consumers escrow and title, mortgage and insurance services.
This month, it expanded to Sacramento, Calif. and Portland, Ore.
To date, the company has raised $75m from private investors including Scott McNealy, co-founder and former CEO of Sun Microsystems, Dick Schulze, founder of Best Buy, Gordon Segal, founder of Crate and Barrel, Amit Singhal, former SVP of search at Google, Diana Nelson, chair of Carlson, Jack Greenberg, former CEO of McDonald’s and Muneer Satter, chairman of Satter Investment Management.