Real estate site Roost gets $8 million in funding
As real estate market crumbles, Roost snags $8 million funding.
Roost, a San Francisco-based real estate search site, has secured $8 million in funding, bucking the slowdown trend in the property market and economy overall, the company announced on Tuesday.
Shasta Ventures led the round, which also included General Catalyst Partners, The Cross Country Group LLC and Geolo Capital, who had previously provided $5.5 million.
"In this tumultuous time, many Americans are looking for an investment alternative to the stock market," Jason Pressman, managing director at Shasta Ventures who will join Roost's board of directors, said in a statement. Roost is able to provide the most accurate picture of a given housing market and therefore help consumers make truly informed decisions."
Roost also announced a partnership with First American CoreLogic to bring listings of foreclosed homes to the site.
The company launched in early 2008 after partnering with local real estate brokers and Multiple Listing Service boards across the U.S. Roost.com is a search engine that sits on top of a hosted network of Internet Data Exchange sites run by real estate brokers.