Bowery Valuation Announces Rapid Growth
Takes on $8mm in additional capital from strategic partners
NEW YORK, Oct. 24, 2019 /PRNewswire-PRWeb/ -- Bowery Valuation, the first tech-enabled commercial appraisal firm, today announces an $8mm strategic round of additional funding, adding new partners Nine Four Ventures, Lightstone and Greenspring Associates. This new capital brings Bowery's total funding to $27mm.
Founded in 2015 by co-CEOs and former appraisers, Noah Isaacs and John Meadows, and CTO Cesar Devers, Bowery Valuation powers its best in class team of appraisers with proprietary, cloud-based software, delivering higher-quality reports with faster turn-around times than anyone in the industry. Since January, the company has more than tripled monthly bookings and revenue in the Tri-State Area and has recently opened its second office in Washington D.C.
"We founded Bowery Valuation because we saw a massive need for a technology-focused solution to one of the biggest bottlenecks in the commercial real estate process - the appraisal," said Noah Isaacs, co-founder and co-CEO of Bowery Valuation. "The tremendous growth we're seeing is proof that we've delivered a superior platform, attracting strategic partners who want to join us as we work to become the premier brand in the appraisal industry."
Isaacs went on to note, "Our focus is on hiring the top talent in our industry and providing those appraisers with much more powerful tools to do their jobs smarter and more efficiently. In adding efficiency to the appraisal process, our appraisers are also able to spend a lot more time focusing on providing the absolute highest level of service for our clients. We are seeking to simultaneously be both the most technology-centric appraisal firm and people-centric appraisal firm."
"We are re-imagining the appraisal process from start to finish," said John Meadows, co-founder and co-CEO of Bowery Valuation, "and the growth that we've achieved here in the Tri-State Area is further proof that our clients and investors have taken notice. We're excited to continue to expand outside of the Tri-State Area and to work on developing new technology to add value for our clients, in addition to providing the traditional appraisal report."
Last month, Bowery opened its second office in Washington D.C. and now operates throughout New York, New Jersey, Connecticut, Pennsylvania, Massachusetts, Maryland, Virginia, Washington D.C., and Florida.
Bowery Valuation
Bowery Valuation powers its expert appraisers with a cloud-based commercial appraisal writing software and mobile application, allowing the firm to produce higher quality appraisals much faster than its leading competitors. Its powerful backend database and natural language generator create increased efficiency, quality, and consistency firm-wide. Further, extensive data collection and integration allows Bowery to reframe what the appraisal actually provides to its clients. Bowery's underlying tech and team of appraisal experts yield unprecedented product offerings in one of the most antiquated sectors of the real estate industry. For more information visit http://www.boweryvaluation.com.
SOURCE Bowery Valuation
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