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Sequoia leads property search engine Trulia's USD10m funding
US residential property search engine Trulia is receiving USD10m in its third round of funding, led by VC firm Sequoia Capital, with participation from returning investors Accel Partners and Fayez Sarofim. Trulia raised USD7.7m from the previous two rounds. The new investment is earmarked for general expansion, which includes the hiring of new property experts and the development of new products. The investment in Trulia is significantly lower than the investment in its competitor Zillow, which has raised USD57m in two years.
Deal Details
- Status completed
- Amount US$10m
- Investors
- Target Trulia
On Trulia's website, its 1.2m users can search for information on homes for sale, property trends and neighbourhoods that is compiled from thousands of property broker websites. Property search engines like Trulia and Zillow obtain all of their revenue from online property advertising, which is expected to generate more revenue than print property advertising by 2010. Sequoia's investment in Trulia indicates that it thinks the market will grow fast enough to accommodate several leading property search engines.
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