Founded in 2019, Seattle-based home-inspection services startup Inspectify recently announced that it has raised $5.3 million in new funding. The company offers inspection software and a booking platform for home, property, and rental inspections, which aggregates data from each inspection to replace traditional static PDF reports. With a focus on serving enterprise clients across various sectors including real estate brokerages, investors, property managers, construction lenders, insurance carriers, and mortgage services, Inspectify has already secured 250 clients and raised a total of $23 million. The company currently employs 59 people.
The majority of the new funding for Inspectify came from Munich Re Ventures, which had previously invested in the startup’s Series A round. This investment makes Munich Re Ventures the largest external shareholder of Inspectify, with Managing Director Matt McElhattan transitioning from a board observer to a full board member. According to co-founder and CEO Josh Jensen, the business is expanding into segments beyond the real estate transaction space, and Inspectify expects to double its annual revenue and gross profit by the end of the year. Additionally, the company aims to achieve positive cash flow next year, indicating strong growth and stability for the future.
Josh Jensen, a former Flyhomes executive and experienced residential real estate home flipper, co-founded Inspectify with CTO Denis Bellavance. Bellavance, who previously co-founded meal delivery startup Peach and worked at Zillow, Loftium, and Amazon, brings a wealth of experience in technology and real estate to the team. Together, Jensen and Bellavance are leading Inspectify in its mission to revolutionize the home inspection industry by offering a more efficient and effective solution for clients in various sectors.
With a focus on leveraging data and technology to improve the home inspection process, Inspectify aims to provide a more dynamic and interactive experience for clients. By moving away from traditional PDF reports and adopting a more modern platform for inspections, the company is able to streamline the process and provide valuable insights to its customers. With the support of investors like Munich Re Ventures and a strong leadership team, Inspectify is well-positioned to continue its growth and expansion in the industry.
The success of Inspectify can be attributed to its innovative approach to home inspections and its ability to adapt to the changing needs of the real estate industry. By focusing on providing scalable solutions for enterprise clients and expanding into new segments, the company has positioned itself as a leader in the market. With a commitment to excellence and a strong team of experienced professionals, Inspectify is poised for continued success in the coming years as it works towards achieving positive cash flow and sustainable growth.
Overall, the recent funding round and expansion plans for Inspectify demonstrate the company’s commitment to providing cutting-edge solutions for the home inspection industry. With a focus on technology, data aggregation, and client satisfaction, Inspectify is well-positioned to continue its rapid growth and establish itself as a key player in the market. The leadership team’s experience and dedication to innovation, combined with the support of investors like Munich Re Ventures, ensure that Inspectify is on a path to long-term success in the real estate industry.
