Nuroa, a real estate vertical search engine launched in Spain in 2007, has secured an additional €1 million from Highgrowth Ventures, their investor from a previous round in 2007. The new round comes during a difficult time in Spain and particularly in real estate, but Nuroa appears to have grown well during the last year. Traffic growth has been 200% up just during the first quarter of 2010. In the last year, they’ve rolled out in ten new markets in Europe, America and Australia. Highgrowth expects that the latest round will give the company what it needs to transform it from a startup to a solid business.
Nuroa has undergone a number of changes and at the end of 2008 restructured operations to reduce its burn rate and focus on traffic, business model and revenues. The business model is based on several layers of qualified traffic generation for clients: CPC, CPL and advertising agreements. Nuroa generates around 1.5 million monthly leads to top Spanish real estate portals such as Fotocasa, Idealista, Yaencontre, Pisos.com, Habitaclia and Portae. To add to today’s funding announcement, Nuroa announces an important agreement with Yahoo, wherein 10 million users in Spain will be able to access the Nuroa real estate search application on the Yahoo homepage.