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Today marks another exciting day in our history – we closed a $15 million round of funding, bringing our total amount raised to $33 million.  Deep Fork Capital LLC led the financing along with our existing prior lead investors Sequoia Capital, Accel Partners and Fayez Sarofim and Co. also participating. You can read the press release here, but I thought I’d spend a moment talking about what this means for our business.

In the past year, the number of home buyers and sellers, real estate agents and enthusiasts using Trulia has grown significantly. We have approximately 5 million unique visitors on the site every month and in the past year we launched new products for house hunters, real estate enthusiasts, and for real estate agents.

So why raise additional capital?  

We know from our industry partners that they are transitioning their marketing efforts and services online, big time. We’ve recently launched the Trulia Advertising Network and Trulia Pro and we plan to aggressively expand our advertising opportunities to give the real estate community hyper-targeted and cost effective ways to make the marketing transition online.

Real estate agents are not just spending their dollars online, but increasingly they are working to build their “online presence”—answering questions, blogging, participating on forums and building out their web sites.  This is happening quickly and it’s important that we move quickly to meet the demand.  We launched Trulia Voices in May of last year, and plan to expand this community offering significantly.

Finally, our user experience and products are pretty good today and they need to get better.  Additional funding means more hyper-talented Trulians to get the job done, and keep our users coming back.   It means more flexibility to experiment with innovative ideas to take Trulia to the next level.

We are excited about what this means for the company and for everyone using Trulia.  Stay tuned!

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