Trulia lands $10 million in funding
Real estate listings search site Trulia.com has secured $10 million in financing, which the company said will go towards expansion.
The Series C round of funding was led by Sequoia Capital, and includes previous venture investors Accel Partners and Fayez Sarofim & Co.
The investment will fund Trulia's general operations and allow it to expand its team, and develop new products and services, the company said in a statement.
The real estate site, which launched in the fall of 2005, has about 1.5 million unique monthly visitors and some 2 million property listings, according to Pete Flint, co-founder and CEO.
The San Francisco-based company has raised a total of $17.7 million since inception.
"Trulia has demonstrated the ability to work effectively within a complex industry, helping consumers with their home-buying decisions and giving real estate professionals a tangible way to make next generation Web services work for them," Sequoia Capital Partner, Sameer Gandhi, said in a statement.
Trulia is among the many new entrants in online real estate chasing the $11 billion in expected advertising spend this year.
Today's announcement follows a new product launch from Trulia this month that included a new online community section intended to spark neighborhood dialog among users, including home buyers, sellers and real estate professionals.
Also in May, Trulia announced a site redesign, e-mail alerts for consumers who want to track current and newly listed properties that match their criteria, the addition of data for past home sales, and the launch of a new real estate-related widgets Web site at HousingWidgets.com.
"We're thrilled to have the support of Sequoia Capital and our existing investors to help us to fully realize our vision to deliver a great online real estate experience," said Flint.
Copyright 2007 Inman News
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