Proptech company Place joins the Unicorn club using Place.com
This unicorn has a great place on the web.
For real estate agents and brokers, there are plenty of platforms and services available to help close more sales, generate leads, or just keep in contact with clients.
Funding has been thrown at proptech companies to keep creating. Crunchbase estimates that real estate companies raised $10.6 billion in venture funding between January and July 2021, up almost $2.3 billion from the same period in 2020.
Thanks to a hot real estate market that has seen more house sales in the US in 2020 than any year since 2006, demand for innovation is rife.
One proptech company that is benefiting from the upward trend of the real estate market is Place. Founded in 2019, this young company has already made major strides as a real estate service provider.
With a strapline reading “everyone needs a place,” Place offers a solution that allows real estate agents to take control of many aspects of their business including marketing, lead generation, accounting, and back-office infrastructure.
This somewhat bucks the trend of companies that are building products designed to eliminate the need for real estate agents.
There’s certainly a market for Place, though. The company has signed up tens of thousands of real estate professionals to its platform and this week, it announced that it has raised $100 million in funding.
The funding round, led by Goldman Sachs Asset Management, values Place at $1 billion, making it the latest member of the Unicorn club, a title given to a privately owned company that is valued at $1 billion or more.
At the heart of Place’s product offering is its website, and it’s hosted on a phenomenal domain name. Yes, Place is operating on Place.com.
The company started life on PlaceInc.com, but in December 2020, it began using Place.com.
Whois history suggests that Place used an Escrow.com domain holding transaction to acquire Place.com using a purchase plan. The registrant of Place.com has been listed as Escrow.com since December 2020.
It’s unclear how much Place is paying to acquire Place.com, but we do know that the domain previously traded for $550,000 in 2017. The sale was facilitated by Right Of The Dot and GoDaddy.
In Place’s case, its website plays a crucial role in the services it provides. Operating on Place.com gives the perfect first impression.
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