PriceHubble: valuation startup raises multiple millions
Zurich-based startup PriceHubble, which specializes in automated real estate valuation, has closed an A-financing round, raising several million CHF.
PriceHubble was founded in 2016 and has the self-declared goal of "revolutionizing the valuation of real estate thanks to state-of-the-art machine learning approaches". To achieve this, the Zurich-based start-up relies on data-based services, such as an online real estate valuation. The valuation incorporates data on the location, the neighborhood, and also sentiment factors such as noise pollution or other immissions.
In addition to insurance companies such as Swiss Life and Helvetia and real estate portals and service providers, PriceHubble is working in Switzerland with the two major banks Credit Suisse and UBS, among others, to develop data-based applications for end customers. In addition, PriceHubble has also been active in France since mid-year. There, the company has entered into a partnership with CBRE France and, among other things, creates predictive analyses for investors, REITs and real estate developers.
Further expansion is planned for 2018. On the one hand, the teams in Zurich and Paris are to be strengthened, and on the other hand, the company is aiming to open up additional real estate markets, says Markus Stadler, CEO of PriceHubble.
The funds for further growth come from the now completed A-financing round, in which PriceHubble raised several million. In addition to existing investors such as Swiss Life and Swisscom Ventures, the Helvetia Venture Fund and members of the btov private investor network, among others, participated. "For Helvetia, PriceHubble offers a range of new analytics that provide valuable additions for location decisions and portfolio management in the context of our real estate and mortgage business," said Ralph Honegger, Chief Investment Officer of Helvetia Group.
