Curb appeal attracts investors to $850K round for real estate tech firm RealQuantum
November 29, 2018 | Austin Barnes
A year of steady growth will help Kansas City real estate tech firm RealQuantum end 2018 with the close of its first round of seed funding — securing $850,000 in investments, revealed Mark Davis.
Mark Davis, RealQuantum
“We closed a couple of times actually — people just kept showing up at the last minute wanting in,” Davis, RealQuantum’s CEO, said of the company’s inaugural investment round that formally closed in mid-October after a launch in late July.
Touting a product that makes tedious real estate appraisals easy, RealQuantum is a web-based narrative appraisal software and cloud-hosted comps database that modernizes the real estate appraisal industry. Capabilities of the product have excited metro investors, Davis added.
“We thought we were going to bootstrap through the entire journey,” Davis said. “[We realized] if we want to go fast, we have to have some acceleration [in terms of] capital.”
Originally leery of taking on outside support, investors — including lead backers Brad Bradley, co-founder of NIC; Steve Tesdahl; and Ned O’Connor, founder of Waterford Property Company — started reaching out to Davis and his team with interest in RealQuantum six months after the company’s launch, making the decision to open a funding round a no brainer, he said.
“[Its encouraging] when experts in the industry are willing to put up their own money for your venture even before you have a product available,” Davis said amazed and encouraged.
The round was led by Dan Craig and Tim Keller, two people Davis credits with making the company’s growth possible. Lead investors will serve as partners who bring value to the company either in expertise, access to new markets or both, he explained.
The company participated this summer in the Enterprise Center of Johnson County’s Pitch Perfect boot camp, as well as presenting on the 1 Million Cups Kansas City stage.
A 2018 LaunchKC grants competitor, RealQuantum is set to end the year with funding exceeding the $1 million mark — between bootstrapping and angel investments — an accomplishment that’s so far positioned the company to grow its development team.
“I didn’t have to jump on any airplanes and we didn’t have to deal with 200 pitches,” Davis said as a testament to local support for RealQuantum. “We were able to close without ever doing much [formal] pitching at all.”
Featured Business
2018 Startups to Watch
stats here
Related Posts on Startland News
Thai Orchid opens Northland location with homey street food set to wow its new neighbors
Even though the new Thai Orchid restaurant in Kansas City’s Northland proudly pays homage to the Rojjanasrirat family’s culinary legacy in Mission, its second-generation owner wants to shock the taste buds of diners who are unfamiliar with the business’ story. “I want the reaction of the people who try our food to be, ‘Wow! That’s…
C2FO accesses $30M investment with World Bank-backed IFC to expand KC firm’s working capital platform
A just-announced capital infusion for Leawood-built C2FO reflects a shared commitment with global partners to boosting jobs and strengthening economic opportunities — notably for micro, small and medium enterprises in emerging markets worldwide. The $30 million funding round features investment from the International Finance Corporation (IFC), a member of the World Bank Group, and existing…
Park capping I-670 gets an official name: South Loop project to honor longtime Republican bridge-builder
Kansas City’s high-profile South Loop Project — a proposed sustainable urban park capping a portion of I-670 — now has a name that pays homage to a leader who played a key role in launching the project: Roy Blunt Luminary Park. “As a working title, the South Loop Project has served us well,” said Jeff…
Not just a pet project: Why this KC e-commerce team adopted a dog supplement brand as its own
The Morgans — the family behind Marknology, a bootstrapped digital marketing firm specializing in Amazon sales — are taking a dog supplement brand that they built as a client to the next level now as owners, they shared. Waggedy — veterinarian-formulated supplements to keep dogs healthy and active, launched by Ben Bellinson in 2015 in…