OJO Labs, an Austin, TX-based home buying and selling platform, closed on a $62.5m funding round.
The round was led by Wafra, with participation from Breyer Capital, LiveOak Venture Partners, Royal Bank of Canada, and Northwestern Mutual Future Ventures. In conjunction with the funding, Russell Valdez, CIO of Wafra, joined the board of OJO Labs.
The company also announced the acquisition of Movoto, a residential real estate search site in the United States with nearly 24 million monthly visits. Movoto is led by Imtiyaz Haque, CEO.
The acquisition enables OJO Labs to scale and bring its personalized technology to millions of homebuyers and sellers.
Led by John Berkowitz, CEO and Co-founder, OJO Labs aims to improve the home buying and selling experience with a combination of human and machine intelligence that delivers personalized property recommendations and guides homebuyers and sellers along their journey. The company currently has strategic partnerships with Realogy Holdings Corp.’s top national brands including Century 21, ERA, BHGRE, Sotheby’s International Realty, and Coldwell Banker.
Additionally, Ojo expanded into Toronto, Canada through its partnership with Royal Bank of Canada’s ventures division and Royal LePage, bringing its services to a large network across North America.