VivaReal, a leading property portal in the Brazilian market, has secured an investment of over R$100 million (USD 40 million) led by Spark Capital, a US-based venture capital firm with $1.825 billion under management. Spark Capital previously invested in Twitter, Tumblr (acquired by Yahoo) and virtual reality headset maker Oculus VR (acquired by Facebook). Jeremy Philips, founder and general partner of Spark’s latest $375 million Spark Capital Growth Fund, led the investment in VivaReal. LeadEdge Capital, a New York-based growth equity firm, joined Spark Capital and existing investors in this round.
VivaReal has been operating in Brazil since 2009, and this round of investment reinforces VivaReal’s position as an important player in the country’s real estate advertising market. This is VivaReal’s Series C round, which brings total capital invested into the company since its inception to over R$170 million. VivaReal’s existing investors include Monashees Capital, Kaszek Ventures, Valiant Capital and Dragoneer Investment Group.
The latest infusion of capital will be invested in product development, marketing and human resources, with the goal of continuing to increase value delivered to advertisers and consumers in the real estate search market. “Our goal has always been to offer the best service for those who are looking for the home of their dreams, and also to deliver the best results for our clients. Jeremy Philips’s experience will undoubtedly contribute to achieving that goal, and the new investment will accelerate our growth and make our brand stronger in Brazil”, explains Brian Requarth, founder and CEO of VivaReal.
Philips is a member of the board of directors of TripAdvisor and was previously a member of the board of directors at REA Group that owns one of the world’s most valuable property portals, realestate.com.au in Australia. The investment in VivaReal is Spark’s first investment in Brazil.
VivaReal is a Brazilian real estate portal with more than 2.5 million real estate listings that connects consumers with homes of their dreams. The portal is a leader in its segment in Brazil and receives over 8 million visits every month through its website and mobile apps. VivaReal operates 14 offices in major cities in Brazil.