Lightstone leads $8M funding round for appraisal startup Bowery Valuation

The company has raised $27M since its founding in 2015

TRD NATIONAL /
Oct.October 24, 2019 07:00 AM
From left: Noah Isaacs , David Lichtenstein and John Meadows

From left: Noah Isaacs , David Lichtenstein and John Meadows

Bowery Valuation, a tech-enabled appraisal startup, has raised $8 million in a funding round led by real estate firm Lightstone Group.

The New York-based startup, run by former appraisers Noah Isaacs and John Meadows, has raised $27 million since its founding in 2015. Nine Four Ventures and Greenspring Associates also participated in the firm’s latest round, which follows the company’s $12 million Series A earlier this year. Lightstone Group, led by David Lichtenstein, has dabbled in investments lately and launched its own debt platform.

Isaacs said that his firm’s platform is like TurboTax for appraisers, and allows them to complete appraisals twice as fast as traditional services.

“It just means they’re not spending time formatting docs, looking up taxes, finding zoning,” he said. “We just thought, ‘let’s automate that.’”

The firm has 50 employees, including 20 appraisers and eight software engineers, the co-founders said. It has also hired a third-party software development based in Belarus to contribute to building out its platform. It opened a second office in Washington D.C. last month, and operates in New York, Florida and six other states.


Related Articles

arrow_forward_ios
COVID-19 Panic Highlights the Importance of Tenant Communication

COVID-19 Panic Highlights the Importance of Tenant Communication

Will Coronavirus Trigger “Force Majeure” Clause in Real Estate Contracts?

Will Coronavirus Trigger “Force Majeure” Clause in Real Estate Contracts?

Redrawing the Property Valuation Map

Redrawing the Property Valuation Map

The New York City Real Estate Model

The New York City Real Estate Model

Kimberly Ross (Credit: Chubb)

WeWork taps oil exec as new CFO

Empire State Realty Trust’s CEO Tony Malkin speaking at last year's MIPIM conference in New York

MIPIM postponed until June as coronavirus spreads

The Future of Urban Logistics Real Estate

Warehouse in the Middle of Our Street: The Future of Urban Logistics Real Estate

Food Halls Are Taking the Bite Out of the Retail Apocalypse

Food Halls Are Taking the Bite Out of the Retail Apocalypse

arrow_forward_ios
Loading...