Startup Reai raised $ 30 million in a fund raising

Reai raised $ 30 million in a fund raising round that led funds that made a re-investment in Zeev Ventures of Oren Zeev, Signia Venture Partners, and the participation of Dubi Frances' S.G.Ventures Foundation.
This is the company's round B round, which already raised $ 10 million two years ago from the legendary footballer Joe Montana through its Liquid2 fund, Oren Zeev, signia and other investors.
Reali has developed a platform that reduces the costs of residential real estate brokerage transactions in the US by more than 70%. Today, more than 90% of home sales and purchases in the US are carried out by traditional brokers, who charge a brokerage fee of 6% on both sides of the transaction. Riley's system allows the seller and buyer to execute the transaction in a simple way, with the entire transaction managed through the company's application.
According to the economic model of the company, where Reali represents the buyer, the company charges a fee of 2.5-3% of the broker representing the seller and returns them to the buyer 1.5-2% of the commission amount. To date, Rilly has paid tens of millions of dollars to buyers who purchased properties through the company's platform. In addition, the company offers additional services necessary for these transactions, including the possibility of obtaining an online mortgage, apartment insurance, trust company and more. When Riley represents the seller, the company allows to sell the house at a significantly lower cost than the market practice, in addition to presenting insights based on Big Data analyzes that allow the seller to maximize the proceeds from the sale of the property.
The company was founded in 2015 by founders Amit Heller, who serves as CEO, and Ami Avrahami, vice president of product and operations manager in Israel. The developers set up a company called Dragonfly Group, which builds residential projects in San Francisco. Over the years, after working with American realtors and paying many commissions, Heller and Avrahami decided to optimize the asset acquisition process with the help of Big Data Insights, a user experience and search that will significantly reduce brokerage costs.
According to Ami Avrahami, vice president of Riley, "The real estate market in the US is very old-fashioned and is still built on the basis of intermediaries on both sides who close the deal, usually without acquaintance or conversation between the buyer and the seller. The intermediaries still work without significant technology, most of the communication with customers is carried out in miles and documents, which makes the transaction more expensive and confusing, and does not allow transparency and a good experience. Riley's solution, which is the only one in the market today, makes it possible to execute the entire transaction with all its components and accompanying products, via cellular phones. Communicate with realtors, sign a mortgage and more documents. All in a transparent, easy and inexpensive way. "
The company has offices in Silicon Valley and Tel Aviv, employing 100 employees, 30 of them in Israel. The capital raised will be used to deploy operations throughout California. And invested in the further development of the technology by increasing its workforce by 30 employees. Among the job vacancies in the Israeli Development Ministry are data scientists, developers of server environments, Web, and mobile.