This article was originally posted by TechCrunch and can be viewed here.
The round was led by Trinity Ventures, and had participation from previous investors including Freestyle Capital, Joanne Wilson, and TechStars.
The platform, which originally launched as a tool for renters to find apartments, has now grown into a full service tool for landlords and brokers, allowing them to manage inventory, track leads, and advertise listings – all while communicating in real-time with consumer-facing websites like Trulia and Zillow.
Impressively, Nestio is now is responsible for originating half of New York City’s rental listings, and has already generated over $20 million in additional revenue for clients. While still just live in NYC, the company plans to use this new funding to expand to Boston, Chicago, Miami, and Washington, D.C.
Beyond expansion, the new funding will also be used to develop Nestio’s product roadmap as well as bulk up the sales, marketing, and engineering teams.
The company also announced that they are bringing on Scott Wolfgang, formerly of Quotidian Ventures (and former Hootsuite board member) as CFO.