VivaReal is one of the more exciting companies to emerge over the last 5 years. They have gone from nothing to market leadership in a short time and recently closed a capital raising of USD 40m, taking the total capital raised to over USD 70m.
Real estate marketplace VivaReal recently raised a $41.3 million Series C with Spark Capital and Lead Edge Capital. The raise is one of the largest venture capital investments in Brazil this year, behind retailer NetShoes’ $170 million round and travel giant HotelUrbano’s $50 million Series D earlier this year, and brings VivaReal’s total venture financing to over $70 million.
Spark Capital General Partner Jeremy Phillips led the Series C in Spark Capital’s in first investment in Brazil, with participation from existing investors Kaszek Ventures, Monashees, and hedge funds Valiant Capital Partners and Dragoneer Investment Group.
VivaReal is the largest real estate marketplace in Brazil, with over 2.5 million active listings in over 1,000 cities, and over 3 million unique visitors per month, 98% of whom are in Brazil. It recently passed market leader ZAP Imoveis, owned by Globo, the media holding company that runs a virtual monopoly across print, TV and radio platforms in Brazil.
“They’re just a beast,” says VivaReal co-founder and CEO Brian Requarth. “We wanted to cash up so we could go head to head. We are actually the market leader in traffic, we have more inventory and our geographic coverage is greater. We don’t know their revenue figures — they started so much earlier and probably have more. But what typically happens in these markets is revenue follows traffic.”
According to Hitwise, VivaReal leads with 19.9% of all real estate traffic in Brazil, compared to ZAP Imoveis’ 18.2%, and Imovelweb’s 15.4%. But VivaReal has about five times the listings as ZAP Imoveis, and 2.5 times as many as Imovelweb. Also according to Hitwise, only 5% of VivaReal’s traffic is paid, compared to 50% for ZAP Imoveis and 39% for Imovelweb.
Click here to read the full article and trace the history of VivaReal.
Please note: Simon Baker, the founder of Property Portal Watch, is a shareholder in VivaReal