Purlin Raises Seed Preferred Equity Round to Support Growth of Business
Purlin Co. ( www.purlin.com ) announced today raising an equity round with key financial and strategic investors, including SUM Ventures, New Valley Ventures, an investment vehicle managed by Douglas Elliman (NYSE: DOUG), Redwood Trust Inc. (NYSE: RWT), through its strategic venture investment platform, RWT Horizons, Mission Gate, and Fredrik Eklund and Julia Spillman-Gover, of The Eklund | Gomes Team at Douglas Elliman Real Estate
LOS ANGELES, Nov. 11, 2022 (GLOBE NEWSWIRE) -- Purlin Co. ( www.purlin.com ) announced today raising an equity round with key financial and strategic investors, including SUM Ventures, New Valley Ventures, an investment vehicle managed by Douglas Elliman (NYSE: DOUG), Redwood Trust Inc. (NYSE: RWT), through its strategic venture investment platform, RWT Horizons, Mission Gate, and Fredrik Eklund and Julia Spillman-Gover, of The Eklund | Gomes Team at Douglas Elliman Real Estate.
"Successfully raising funds in today's market is a proud moment for Purlin and its investors," said Giorgi Chigogidze, Purlin CEO. He continued, "This signals the continued, increasing demand for Purlin's products, and validates our unique approach to providing AI-powered applications to major real estate brokerages and agent networks."
Proceeds will be used to grow Purlin's business, support the success of its existing clients, and expand the geographic footprint of its AI products. Purlin's client- and agent-facing technology is currently powering systems used by Douglas Elliman's 6,600 agents and 46,000 annual clients across the world.
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