Propertymate Raises $5M+ in Seed Funding and Rebrands Ahead of Expansion

Texas-based proptech startup Propertymate has raised $5.5M in seed funding and rebranded itself ahead of a planned expansion across new markets in the US.

Investors include Gaingels, Geek Ventures, Asymmetry Ventures, Unpopular Ventures, Flyer One Ventures, U.Ventures, Verras Capital, SID Venture Partners, Pragmatech Ventures, and several angel investors.

Propertymate is a new construction home marketplace founded in 2020 by Ukrainians Dan Hnatkovskyy and Sofia Vyshnevska. Its portal lets homebuyers search, compare, and buy new construction homes by matchmaking would-be buyers and developers.

The startup raised $1M in pre-seed funding in 2021 and the portal already employs nearly 100 people.

Ihar Mahaniok, Managing Partner at Geek Ventures commented: "We were lucky to be the first investor in this round and witness the company growing over 11X within the last year while delivering a huge positive impact to local communities".

Meanwhile, Propertymate will henceforth be known as NewHomesMate—a new-look brand name that reflects the focus on the new construction homes market in the US, with the entire country experiencing an accelerating housing shortage crisis.

According to US portal Realtor.com figures, the gap between single-family home constructions and household formations grew to 6.5 million homes between 2012 and 2022.

NewHomesMate has scaled to nine new markets (Dallas, Houston, Orlando, Jacksonville, Tampa, San Antonio, Miami - Ft. Lauderdale, Raleigh-Durham, and Ocala-Gainesville) in addition to its native Austin, Texas. The company aims to enter eight new markets in the near future.

Dan Hnatkovskyy, CEO at NewHomesMate, said:

"These investments give our team a great opportunity to expand to new markets and deliver more value to homebuyers and builders. Propertymate rebrands as NewHomesMate to better reflect the focus on our mission to make the new construction home buying process a lot better. Also, within the next year, we plan to launch another eight markets, including Atlanta, Phoenix, Charlotte, Charleston, and Denver."