Nestio, a real-time real estate platform for renters and agents, has just announced a new $1.5 million round led by Joanne Wilson, with participation from other strategic angels and investors including David Tisch, Jerry Colona, David Cohen, Rick Webb, Greg Barton, Stuart Litwin, Lazerow Ventures, Quotidian Ventures, Ludlow Ventures, Scout Ventures, Meridian Development Partners, and Narbona Hill Corporation.
According to the company, this latest round will go toward further scaling the company including new hires, expanding coverage within the NYC market, and expanding to new markets.
Here’s what Nestio CEO and co-founder Caren Maio has to say about it:
We have an incredible group of people in our corner and we’re very proud and fortunate to call them our investors. We have a long way to go as a company, but we couldn’t be more excited about this next leg of the journey. The entire team is ready to continue executing on this mission, delivering modern and intuitive technology to an industry that’s ready for transformation.
This round of funding comes on the heels of one of the biggest updates in Nestio’s history, the addition of a back-end product for landlords and real estate agents.
Originally, Nestio launched as a destination that aggregated and organized all of the services with which users hunt for rental apartments in NYC. But to solve the problem of outdated or inaccurate listings, the company had to start at the beginning, with the landlords.
The latest initiative lets landlords, realtors, and inevitably consumers see real-time changes to the market that sync across all pieces of the platform. Not only does it streamline the process for landlords, which to date has been faxes, spreadsheets, and headaches, but it ensures a streamlined consumer experience, too.
Nestio has raised a total of $818K from various investors in the past, including TechStars, where the company first launched. Today, the additional $1.5 million puts the company on track to complete this long-term vision of serving both the consumers and the industry professionals in this highly complicated and broken industry.