Sequoia Capital leads funding round
Over the past three months, we launched Trulia Voices, announced a deal with Realogy, were chosen by REBNY to power their NY listings site, and hit the 1.5 million unique visitors mark. The whirlwind of news was accompanied by some very interesting gossip (often found in the comment sections).
Well, we are starting today out with some very big news that should clear the air about the direction that Trulia is heading. We’ve announced that Sequoia Capital is leading a $10 million Series C round of funding, joining existing investors Accel Partners and Fayez Sarofim & Co. Sequoia Capital is an excellent partner for us; they are the folks behind Oracle, Cisco, Yahoo!, Google, YouTube and many other blue chip companies.
The investment will fund Trulia’s general operations and help us expand our team of real estate and search technology experts, deepen marketing and sales efforts and develop new products and services aimed at helping consumers make smarter decisions about buying and selling homes.
What does the funding round mean for our business:
- No change in strategy: This new round of funding is a testimony to the viability of our business model. We are a media and technology company, working to help consumers and the real estate industry leverage Trulia as an online research/marketing tool.
- Built for the long term: Sequoia Capital shares our long-term view of building something that has a long lasting, positive impact on consumers and the industry.
- Still unbiased and independent: Trulia continues to be absolutely unbiased and independent, unaffiliated with any specific media or real estate brand. This is how we started, and we will remain steady on this course.
We are very enthusiastic about this new partnership with Sequoia Capital; we’ve barely scratched the surface in terms of what we can do and we appreciate everyone that has supported us along the way!
You can enjoy our official press release here (PDF).
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Brian Brady said,
May 24, 2007 @ 7:37 am
Well, it’s safe bet that Trulia will be around a long time, now. Sequoia has a good eye for future value.
Trulia - Congratulations from LakePlace.com! » Pine Needle Lawn said,
May 24, 2007 @ 8:08 am
[…] Trulia has been lighting up the contracts over the past 3-6 months. Signing many of the heavyweights (Cendant included). Personally, I have been very surprised by some of their successes (meaning the companies they have signed up). I thought that Zillow would have a big lead on these guys and gals, but it looks like the underdog may be landing the more powerful blows in this bout. […]
Y! Real Estate Launches Improved HomeValues « Screenwerk said,
May 24, 2007 @ 9:44 am
[…] Related: TechCrunch reports that Trulia has raised a $10 million Series C round. Here’s more from the Trulia Blog. […]
Matt Goyer’s Real Estate Blog » Blog Archive » Trulia raises $10 million said,
May 24, 2007 @ 10:32 am
[…] Congrats to Trulia on raising $10 million led by Sequoia. The race is now on between Trulia and Zillow! […]
Peter Phelps said,
May 25, 2007 @ 1:41 pm
Financing is excellent.
What are you going to do about offering aligned mortgage financing?
Heather, dir. of marketing said,
May 27, 2007 @ 10:00 am
Hey Peter - Heather from Trulia here. What do you think we should do about aligned mortgage financing? Have any good ideas for us to put in the hopper?
ekday said,
May 29, 2007 @ 2:14 pm
Congrats to Trulia, you doing great work.