Smartzip Analytics raises $12M for real estate big data tool …

Smartzip Analytics raises $12M for real estate big data tool …

Real estate brokers spend a lot of time looking for potential buyers and sellers, and now they’re putting some big data and analytics muscle into their work.

Smartzip Analytics owns a big pile of property and demographic data that can help brokers understand the desirability of a property. But the company’s main draw is a product called “Smart Target,” which uses big data and a special algorithm to zero in on homes that are most likely to be sold in the next 6-12 months.

This allows brokers to spend less time on weak prospective customers and more time on strong ones, the company says.

The system apparently works. Smartzip already has a list of big real estate firms for customers, including online brokers Homes.com, RealEstate.com, and RealtyTrac.com.

We also note that the company is in the process of raising a $14 million funding round. According to a Securities and Exchange document filed today, Smartzip has already raised $12 million of the total. The document says funding for the round began on July 22.

The $12 million was led by Crest Capital Ventures. Existing investors Claremont Creek Ventures and Intel Capital also contributed.

Pleasanton, Calif.-based Smartzip has now collected a total investment of $18.6 million.

Smartzip Analytics had not returned calls for comment by post time.

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Smartzip Analytics raises $12M for real estate big data tool …

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