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Los Angeles-based Nestigator announced they have raised a $3 million Series A this week. The online real estate marketplace has been largely in stealth for the past year, building up their product and team, led by serial entrepreneur Jerry Slavonia. Slavonia founded Campus Explorer, and also spent time growing Rent.com, which was later acquired by eBay.
Funding will be used to further product development and to build out their 16-person team at their downtown headquarters. Nestigator also plans to expand beyond apartment rentals to for sale properties.
“We want to match people with properties,” Slavonia said. “Tell us where you want to live and we’re going to help you find the right property in the right neighborhood.”
The nationwide website does not require payment to post, separating it largely from competitors like Apartments.com and Rent.com. Slavonia credits this as the biggest benefit to the consumer, since there is no exclusion of types of postings. Content is largely aggregated from property management software and updated in real time, and Slavonia plans to build out more product improvements.
“We’re going to try and innovate and disrupt in the real estate category,” Slavonia said. “It may seem like it’s crowded, but I was in it for seven years and there’s still a lot of work to be done.”
The round was led by Pittsburgh-based Velocity Street Ventures.
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