Tech Tech News Seattle startup vets increase $1M and reveal more details about home valuation...

Seattle startup vets increase $1M and reveal more details about home valuation platform Plunk

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Brian Lent (left) and David Bluhm, co-founders of Plunk. (Lamda Photos)

Will that rest room rework improve your home’s worth by more than $20,000? What about changing the flooring or including a storage? How in regards to the unhealthy visitors that’s getting worse round your neighborhood?

A stealthy Seattle-area startup wants to assist reply these questions and more.

Plunk is revealing more details about its app that helps householders play “what if” situations to work out what would possibly drive the worth of their home up or down. The app makes use of picture processing, AI, and machine studying to assess the situation of a home and suggest particular reworking initiatives that may improve its worth.

The idea is to give shoppers the identical tech-driven funding recommendation they’ll get with personal funds or shares, but for his or her home.

“Home ownership for most Americans is the best way to grow wealth, yet there is no trusted source of advice and help when it comes to the most important financial commitment we make,” said Plunk co-founder David Bluhm.

Plunk calls its valuation metric a “Plunk Value,” which is a home’s potential worth with renovations.

“It’s a great way to understand your home as an investment and know where and how much to invest in your home,” Bluhm said.

In some methods, Plunk is analogous to home valuation instruments such as Zillow’s Zestimate, but goes a step additional with tailor-made suggestions fueled by varied data sources. It’s much less focused on shopping for or promoting transactions, and more on the whole home-owner journey.

GeekWire beforehand reported on the corporate in July 2019 when it was known as Lamba and raised an preliminary $1 million.

Plunk employs 15 people and has now raised more than $2 million to date from angels and institutional traders together with Seattle-based Unlock Venture Partners.

Andy Liu, co-founder of Unlock, noted rising home costs and more people spending time at their home amid the pandemic as headwinds for Plunk.

“At Unlock, we believe the demand and interest in Plunk will be significant as homeowners want more actionable insights on their home,” Liu said.

Plunk is led by Bluhm and Brian Lent. The Seattle startup vets in 2004 helped launch Medio, which initially began as a cell search service but morphed into a cell analytics supplier that Nokia scooped up and folded into its HERE Technologies arm. A consortium of German automakers later acquired HERE in 2015.

Lent, who’s Plunk’s CEO, stayed on with HERE following the deal and was most lately chief expertise officer before he departed in 2018. Lent beforehand began corporations together with Micro Revelations and Intelligent Results. He was an government at Junglee before Amazon acquired it in 1998; Lent spent the next two years at Amazon, the place he created its first data mining group.

Bluhm is a longtime Seattle entrepreneur and investor. He beforehand led corporations such as Z2Live and DropForge Games, and is chairman of Powerit, a battery startup.

Bluhm said Plunk plans to broaden its app “to address all other aspects of home ownership.”

Plunk joins a cadre of actual property corporations within the Seattle area. The space is home to heavyweights such as Zillow Group and Redfin, as nicely as startups together with Flyhomes, Blokable, Loftium, Arrived, and others. Last month New York-based actual property brokerage and tech firm Compass introduced its acquisition of Modus, a Seattle startup that automates the title and escrow part of closing on a home.

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