roost.com Welcomes US$8m Investment
December 10, 2008 by Emma Sorensen
US based property search engine roost.com has secured $8 million in new funding, thanks to investment led by Shasta Ventures. The funds will allow expansion and further improvements to the already very successful website.
Shasta Ventures joins existing investors General Catalyst Partners, The Cross Country Group LLC and Geolo Capital, who supplied the company’s initial $5.5 million in capital and also contributed to the latest funding increase.
Alex Chang, CEO of roost.com, wrote on the company blog:
“roost.com is a marketing platform brokers can control, measure and track. And in this tough market, our clients have to watch every marketing $ like a hawk. Which is why they’re coming to roost.com.
Needless to say there are few stories more powerful than this for investors, especially in today’s market.
It is with great excitement that I welcome Shasta Ventures to the roost.com family.”
Jason Pressman, managing director at Shasta Ventures will join the roost.com board of directors. In a statement issued to the press he said:
“Some may wonder why we would choose to invest in a real estate search company in one of the most challenging housing and credit markets in recent history. In this tumultuous time, many Americans are looking for an investment alternative to the stock market. roost.com is able to provide the most accurate picture of a given housing market and therefore help consumers make truly informed decisions.”
roost.com also announced a partnership with First American CoreLogic that brings foreclosed home listings to the site, which brings roost.com’s overall listings to more than 3 million.
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[...] category have included home search and values estimate website cyberhomes.com. After an $8 million investment led by Shasta Ventures roost.com recently expanded, bringing it closer to covering the entire state [...]