Real estate tech startup Prevu closes $2 million in seed funding to grow its digital home buying platform and save homebuyers money

Prevu, a real estate tech startup poised to disrupt the homebuying process by delivering greater transparency and savings to homebuyers, has closed $2 million seed funding round to grow its digital home buying platform and disrupt the homebuying process by delivering greater transparency and savings to homebuyers.

The round was led by Corigin Ventures, a prominent seed-stage venture capital firm with expertise in the real estate technology and consumer industries as well as a history of backing startups disrupting residential brokerage business models. Prior successful investments include Compass, Transfix, Latch, ClassPass and Wheels Up. Kairos and AVG Basecamp Fund also contributed to the seed round.

Founded in 2o15 by Thomas Kutzman and Chase Marsh, the New York City-based Prevu is a smart online real estate brokerage on a mission to save people money when they buy a home. Prevu’s Smart Buyer service enables homebuyers to receive a commission rebate of up to 2% of their purchase price. Our end-to-end platform allows you to seamlessly search for properties, easily communicate and share with your dedicated salaried agent, as well as make offers.

Unlike the majority of residential real estate technology firms and tech-enabled brokerages that focus on optimizing the seller experience, Prevu was designed to offer buyers an unparalleled value proposition. With Prevu, customers benefit from a seamless, modern online experience and the opportunity to save time and money while taking greater control over the most important financial decision of their lives – purchasing a home.

Commenting on the funding Thomas Kutzman, co-founder of Prevu, said: “The bottom line is that the traditional residential real estate industry is antiquated and inefficient with the majority of agents pulling clients offline at the first opportunity to control the process. Buyers no longer need to rely on agents as the gatekeepers of information, which is available at their fingertips online. We were incredibly frustrated by our own experiences in buying real estate, and we sought to create a truly intuitive model that gives control back to consumers and eliminates a lot of the stress involved. Our Smart Buyer™ platform was created to address these inefficiencies and provide greater control to buyers, while delivering rebates that help to offset the significant expenses involved in purchasing a home.”

Prevu’s Smart Buyer™ platform offers buyers a sophisticated, zero-pressure approach to homebuying, creating an efficient structure that equips them with the tools and advice needed to guide them through the early phases of the process while capitalizing on how consumers prefer to interact. The company’s expert agents are on hand to answer questions along the way and step in during the complicated last mile, assisting buyers to schedule a tour, make an offer, negotiate a purchase and close on a transaction – all through Prevu’s platform. Whereas the preponderance of buyers’ agents keep the full 3 percent commission paid on a transaction, Prevu passes two-thirds of its commission back to each buyer who completes a purchase on the platform, delivering a rebate of up to 2 percent. This represents a significant cost savings to buyers, as customers who have used Prevu to purchase homes have received rebates of $23,000 on average.

“Prevu has been on a mission to save homebuyers money since launching our Smart Buyer™ platform in 2017. We have invested heavily in understanding the homebuyer, creating an environment that anticipates their needs and delivers a confidence-inspiring experience. Access to information has empowered consumers, creating less of a need for agents to be involved in the early stages of the process. Our platform recognizes this shifting consumer preference and gives consumers the tools they need to manage the process at their own pace, on their schedule and with the promise of a compelling, meaningful rebate,” Chase Marsh, co-founder of Prevu, added.

Prevu currently operates in the New York Metropolitan Area and Connecticut and has grown rapidly in the region as an increasing number of buyers have recognized the value and opportunity the platform presents. This funding will enable the company to grow its engineering team to further enhance its differentiated technology platform and strategically expand to new geographic markets.