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

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
Compass CEO Robert Reffkin (Getty; iStock)

Compass eyes IPO in 2021

Compass eyes IPO in 2021
The total supply of single-family homes declined 40 percent to 3.3 months in October (iStock)

Single-family home sales dip in October, but up 41% from last year

Single-family home sales dip in October, but up 41% from last year
As workers trade in suits for sweatpants, 1 in 6 dry cleaners has closed or gone bankrupt (Getty)

Pandemic takes drastic toll on dry cleaners

Pandemic takes drastic toll on dry cleaners
The Economic Innovation Group identified 145 real estate investments in Opportunity Zones (iStock)

Real estate deals dominate Opportunity Zones. Is that bad?

Real estate deals dominate Opportunity Zones. Is that bad?
Ivanka Trump and Jared Kushner with the Trump National Golf Club in Bedminster (Getty; Trump Org)

Ivanka Trump and Jared Kushner prepare NJ home for arrival

Ivanka Trump and Jared Kushner prepare NJ home for arrival
Behind Deutsche Finance’s American buying binge

Behind Deutsche Finance’s American buying binge

Behind Deutsche Finance’s American buying binge
(iStock)

Mortgage requests surge ahead of Thanksgiving

Mortgage requests surge ahead of Thanksgiving
The office comes to hospitality and multifamily

The office comes to hospitality and multifamily

The office comes to hospitality and multifamily
arrow_forward_ios

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

Loading...