Ownwell, an Austin, TX-based provider of an online solution to help commercial and residential property owners save money on property taxes, raised $5.75M in Seed funding.
The round, which brings the total raised for Ownwell to $7.5m, was led by First Round Capital with participation from Wonder Ventures, Founder Collective, Long Journey Ventures and Scott Banister.
The company intends to use the funds to accelerate its hiring in all areas: sales, marketing, technology, operations and local experts and expand its business reach.
Led by CEO Colton Pace, Ownwell specializes in reducing property taxes for property owners. Each year, the company’s tech system analyzes millions of properties to identify property owners who are overpaying and offers to protest their tax assessments on their behalf for just 25% of any savings they are able to achieve.
Over the past nine months, Ownwell’s customer base has grown by 40x, with operations currently in Texas, California, Washington and Florida with further plans to expand.