Luxury Presence Expands Series B with Investment from Spencer Rascoff
VC firm 75 & Sunny invests in leading luxury real estate marketing platform Series B
By: Luxury Presence
LOS ANGELES - March 24, 2022 - PRLog -- Luxury Presence, an industry-leading, award-winning marketing platform built for luxury real estate agents, teams, and brokerages, announced an additional boost to its Series B funding round from an investment by Spencer Rascoff's LA-based venture capital firm 75 & Sunny. The company had recently announced a $25.9 Million Series B led by Bessemer Venture Partners.
"I'm always looking for companies that have an excellent product-market fit and are solving a real problem — Luxury Presence checks those boxes. The company is growing quickly and has an exceptional leadership team. I couldn't be more excited to co-invest alongside Bessemer, a fantastic firm, to help cultivate Luxury Presence's potential," said Spencer Rascoff, chair and co-founder of Pacaso, Recon Food, dot.LA, and Supernova.
Luxury Presence plans to use the funds in its latest round to build new marketing products for agents, enhance its offering for teams, and invest in growing its Networks feature. This offers an industry-first listing sharing feature that enables Luxury Presence agents to easily distribute their properties across markets and connect with referral partners through the Luxury Presence platform. This is an especially valuable capability for luxury clients who may be buying remotely or sight unseen.
"Our 2022 goal is to build up and improve agents' marketing products to expand their spheres of influence with complete ease," said Malte Kramer, CEO of Luxury Presence. "I'm so proud of what our team was able to accomplish during the pandemic. We were able to help brokers, teams, and agents thrive during a time where the world was forced to go digital with a powerful platform that allowed them to continue to foster relationships and grow their businesses."
Co-founder of Zillow and current chair and co-founder of Pacaso, Recon Food, dot.LA, and Supernova, Rascoff is currently an angel investor in more than 75 companies. Rascoff says he plans to focus more of his firm's time and capital on elevating and supporting those existing investments, including Luxury Presence.
Luxury Presence's product has evolved from a website building tool to a more holistic real estate marketing platform and referral network that now includes a customized home search tool for agents, as well as marketing, social media and lead generation support. It currently ranks 598 (2021) nationally on the Inc 5000, and 31st in the Regional California division.
To learn more about Luxury Presence, visit luxurypresence.com.
About Luxury Presence
Luxury Presence is a leading provider of websites, marketing services, and software tools for real estate agents. The company incorporates the latest in organic and paid advertising, modern MLS search technology, and stunning website frameworks to consistently position their clients ahead of the competition. Since its launch in 2016, Luxury Presence has worked with more than 20 of the Wall Street Journal's Top 100 agents, and has partnered with five national brokerages. Boasting a client list of over 4,200 clients, Luxury Presence grew over 3x in 2021, and currently holds the number 322 spot on Inc. 5000's list of fastest growing privately held companies in America.
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