INSUBCONTINENT EXCLUSIVE:
Perch, the vertically integrated platform for buying and selling homes, has today announced the close of a $36 million equity round led by
Navitas, with participation from existing investor FirstMark Capital, Juxtapose and Accomplice
The company is also announcing that it is rebranding from Perch to Orchard.Orchard launched in September of 2017 with a plan to bring the
full home selling and buying experience under one roof
last home, or to place an offer on their new home contingent on the sale of their old home, which is unattractive to most sellers.Orchard
Orchard co-founder Court Cunningham says that more than 85% of those homes sell at a market price before the 90-day period.Cunningham
Orchard lets you search by pictures of that room as you browse homes
Orchard is also working on a new machine learning-powered search system that would allow users to select five homes they love to help the
estate agents live off.Cunningham believes this is what makes Orchard a more human tech real estate platform, fully aligning the interests
market value through that guaranteed offer, and then makes small improvements to the home to help it sell
Cunningham says the company is only using a fraction of its debt financing.Orchard also offers a title business, letting buyers close the
transaction via their phone from the comfort of their home
And Orchard shows no signs of slowing
The company currently has a mortgage product in beta.On the heels of this new funding round, Orchard wants to double the size of its team
from 150 people to 300 by the end of 2020
