Showing Management Startup Instashowing Nabs $4M In Funding
Showing management startup Instashowing has landed $4 million in a second funding round, the company announced on Thursday.
The news comes about two months after the company announced its initial funding round of $1.5 million, which was led by former Trulia CEO Pete Flint, and included participation from other well-known names in the industry like coach Tom Ferry, Howard Hanna Real Estate Services President Howard W. “Hoby” Hanna, and Tomo founder and former Zillow exec Greg Schwartz.
This second round of funding was led again by Flint with participation from Don Stalter, a partner at seed and growth investor company Global Founders Capital, and Jonathan Wasserstrum, founder of commercial real estate tech company SquareFoot.
In recent months, Instashowing, along with other showing management platforms, has seen a rise in popularity, as agents and brokers have expressed some uneasiness at popular showing management platform ShowingTime’s acquisition by Zillow in February.
Instashowing said the company will primarily use the funds to develop an open API for showing services, allowing for a “more tight” integration of showing services into the real estate transaction. Through the open API, broker tools will be able to pull agent showing data into their software in order to create a more complete picture of an agent’s pipeline. Agents will also be able to manage their Instashowing account from their CRM.
“This funding round will enable us to build a simpler, more unified showing product that deeply integrates with brokers and their existing tools, helping them deepen the connective tissue with their agents, helping strengthen their value proposition with agents,” Instashowing Founder William Schoeffler said in a statement.
The company also announced that industry vet Alon Chaver will join Instashowing’s board of directors. Chaver has held executive positions at companies like Trulia and HomeServices of America over the years.
“[Chaver’s] guidance has been invaluable to our team,” Schoeffler added. “We look forward to his help with our partnerships with the best brokerages in the country.”
A press release from Instashowing added that the company is also in the midst of developing a number of industry partnerships and MLS integrations of its desktop and mobile apps.