Honely, a PropTech startup based in Boca Raton, has announced the closing of its seed funding round at an undisclosed amount to expand its platform.
Honely was founded in 2020 by Jonathan Shah and Maxwell Schwarz with the mission to facilitate real estate ownership by using data science and predictive analysis. The startup has developed a highly scalable platform to make the decision-making process easier for individuals and institutions alike. Shah referred to the startup’s beginning and journey to fulfilling its mission by stating:
“We began this journey in mid-2020 with nothing but some internal funding and a vision to become the go-to resource for actionable real estate analytics. In that short span of time, we’re proud to have built models that surpass anything available on the market and with the conclusion of this seed round it’s time to go to market and assist the entirety of the real estate investing ecosystem.”
The capital raised from the seed funding round will allow the startup to continue providing quality insights by analyzing data that had been historically ignored by traditional platforms, including relocation trends, zip code rankings, automated valuation models (AVM), and more. Shah said in this regard:
“Capital from this seed round will be used for the full-scale rollout of Honely.com, to allow the company to reach the next level of scale and impact, delivering real estate data analysis and forecasting instantaneously to investors and home buyers alike, thereby kickstarting the commercialization of the platform,”
Data science has become a major aspect of the decision-making process for enterprises around the globe. Now, Honely is looking to make these insights available to everyone via an intuitive platform that anyone can take advantage of. By combining unique data with its artificial intelligence and machine learning models, the proptech startup is aiming at becoming a major player in the local real estate market before expanding to other markets.