HouseCanary Acquires Dropmodel

houscanary

HouseCanary, a home valuation fintech company, acquired Dropmodel, a technology startup with analytic and financial modeling solutions for the single-family real estate asset class.

The amount of the deal was not disclosed.

This acquisition will augment HouseCanary’s offerings providing investors with programmatic capabilities to buy smarter. By combining HouseCanary’s proprietary data with Dropmodel’s modeling analysis, the company will provide new insights and significant benefits to investors across all phases of acquisition and ownership, including solutions for determining acquisition parameters, creating discounted cash flow projections, and asset management decisions.

In addition, Dropmodel Co-Founder Tom Blake has joined the company as Vice President of Investor Platform.

Founded in 2017, Dropmodel is a web-based real estate financial modeling, analysis, and presentation application that includes a suite of smart, flexible models, calculators, and tools for the single-family real estate sector. It helps single-family real estate investors — across all strategies — drop their data into analytical models and get instant, comprehensive results that support data-driven business decisions. The company had received early investment from Palo Alto based venture capital firm Social Capital.

Founded in 2013 by Jeremy Sicklick, CEO, HouseCanary is a valuation-focused real estate brokerage that provides software and services to financial institutions, investors, lenders, mortgage investors, appraisal management companies, and consumers to accelerate acquisition, underwriting, portfolio management, and more.

FinSMEs

02/04/2020

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