Houwzer, a real estate brokerage startup, has recently raised an extra $4.5 million from an unexpected source. Famous basketball player, David Robinson, along with local investor and political fund-raising specialist, Ira Lubert were two investors in Houwzer's recent funding round.
Robinson, who played basketball for Navy and then for the NBA’s San Antonio Spurs, is making a personal investment in this fund-raising round in Houwzer, along with others, through his private equity firm, Admiral Capital Group. Lubert is making his $1 million investment through his family office, Houwzer executives said.
Robinson, known as “the Admiral” on the basketball court, cofounded the firm with former Goldman Sachs alumnus Dan Bassichis. Admiral Capital Group, with over $1.5 billion of assets under management, is a Manhattan-based private equity firm with a focus on real estate, hospitality, sports, and entertainment. Admiral will also choose a member of Houwzer’s board.
Having already raised $2.2 million in outside capital, Houwzer founder and CEO Mike Maher said the new funds will help the company continue its growth in the Philadelphia and D.C. metro areas and expand into another major market in the next 12 months.
“Our vision at Houwzer is to be the best real estate company in the world — and for the world,” said Maher, “An investment by Ira Lubert is a big validator for our model, and with Admiral Capital Group alongside us, we now have the network and resources to help us scale nationally.”
“Houwzer plans to streamline the entire home sale transaction for consumers with a one-stop shopping experience guided by a concierge. By integrating core home services like mortgage financing and title insurance, consumers benefit from a better, faster, and cheaper home buying and selling experience," Maher said.
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