Nestio raises $1.6M, hires former OLR exec

Joseph Ben-Zvi will head up sales for resi. listings database

New York /
Dec.December 03, 2014 09:00 AM

Residential listings database Nestio raised $1.6 million in its latest fundraising round, CEO Caren Maio told The Real Deal today.

Seed investment firm Freestyle Capital, whose bets include About.me and BackType, led the financing round. Nestio, which caters to both landlords and brokers and counts Two Trees Management and Time Equities among its clients, raised $750,000 in a seed funding round in 2011 and an additional $1.5 million last year.

“We’re really looking forward to stepping on the gas,” Maio said. The new funds will mainly be used to bulk up the firm’s sales efforts, she added. The company just hired Joseph Ben-Zvi, who was most recently director of sales at rival residential listings company On-Line Residential, to head up sales. In a statement, Ben-Zvi said that he was “excited and humbled” to be joining the firm.

Nestio started in 2011 as a consumer-facing listings aggregator but in 2013 evolved into a listings management software for landlords. The system lets property owners manage inventory online, send broker blasts and track the performance of their rental portfolios. It added a product for brokers this year which allows them to manage their leads and market listings through the platform.The Real Estate Board of New York integrated Nestio into its RLS listings system in June, as TRD reported.

The company now claims to have over 30 percent of New York City’s rental listings in its database.


Related Articles

arrow_forward_ios
Eric Gordon
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
From left: PropTech's Thomas Hennessy and Joseph Beck; Appreciate's Chris Laurence (Appreciate, LinkedIn/Tom Hennessy, LinkedIn/Joseph Beck, iStock)
Single-family rental platform Appreciate to go public in SPAC deal
Single-family rental platform Appreciate to go public in SPAC deal
Buildots' Aviv Leibovici, Roy Danon and Yakir Sudry (Buildots)
Construction-tech firm Buildots raises $60M in Series C round
Construction-tech firm Buildots raises $60M in Series C round
Robert Reffkin, founder and CEO, Compass (Getty Images, iStock)
Compass reports $188M first-quarter loss, CFO’s resignation
Compass reports $188M first-quarter loss, CFO’s resignation
SmartRent's Lucas Haldeman (SmartRent, iStock, Illustration by Kevin Cifuentes for The Real Deal)
SmartRent’s losses widen as supply-chain crisis lingers
SmartRent’s losses widen as supply-chain crisis lingers
Material Bank's founder and CEO Adam Sandow (Material Bank)
Design supplies marketplace Material Bank worth $1.9B after fundraise
Design supplies marketplace Material Bank worth $1.9B after fundraise
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...