Deep Fork Capital LLC led the financing with existing prior lead investors Sequoia Capital, Accel Partners and Fayez Sarofim and Co. also participating. Trulia.com has now raised a total of $33M in Venture Capital.
What Will Funding Mean?
Trulia will use this round of funding to further its development of new products and services for homebuyers, agents, brokers and advertisers and to expand their advertising services for the recently launched Trulia Advertising Network and self service offering, Trulia Pro.
Trulia is now helping approximately 5 million unique visitors per month find information on homes for sale using custom search criteria and, according to comScore, now ranks as the seventh most trafficked real estate site on the Web (April 2008) with annual growth of over 325%.
Pete Flint, co-founder and CEO of Trulia said, “this additional capital will help us take advantage of this opportunity and continue our accelerated growth. This market is also a unique time to help real estate brokers and agents transition their marketing efforts and services online. In the coming year, we plan to roll out world-class products that will continue to transform the online real estate experience.”
To give you an idea of the scope of this investment, think about this- all the news last month was about a major investment into the insanely popular social media giant,Twitter… for $15M. Although Trulia is a different product altogether, the buzz will be huge about this round of investment because the investment pool seems cautious in the real estate space and many companies are having a tougher time sniffing out investment, Trulia goes out and hits a homerun.