MooveGuru, an Atlanta real estate technology startup, is gearing up to close a Series B to fund a franchise expansion and hiring push.
The startup is also moving from its Roswell office to an 8,700-square-foot Sandy Springs office at 1600 Riveredge Parkway, where it plans to have 30 new employees in the next two months, MooveGuru CEO Scott Oakley said.
MooveGuru currently has about 40 employees, half of which are based in Atlanta. The startup is committed to in-person office space, a trend among other technology companies. Google and Visa are both undergoing massive, Atlanta office expansions.
The new office has a capacity of 110, allowing for social distancing even after initial hiring, Oakley said.
The software-as-service startup provides a platform to help homeowners with moving costs and services, such as setting up utilities or moving companies. It sells to real estate agents and mortgage loan officers, who provide those tools to their customers.
The round, which is about $2 million, is set to close in the next couple of weeks, Oakley said. MooveGuru raised at a $10 million valuation, according to an email obtained by Atlanta Inno. The startup previously raised $1.9 million from the Atlanta Tech Angels a couple of years ago.
Oakley declined to name the investors but said the Series B round includes a private equity firm based in Texas as well as individuals.
MooveGuru represents a growing trend of the property tech, or proptech, sector. Proptech has grown 300% since 2010 as more commercial real estate companies turn to technology to help with real estate transactions, according to a 2021 report from Jones Lang LaSalle Inc. (NYSE: JLL), a global commercial real estate services company.
MooveGuru is launching a new division next week, which will focus on “helping consumers take care of their house from start to finish,” Oakley said.
The franchise expansion is something that Oakley says no property technology company has done before. The startup has already sold 12 franchises across the country. A brokerage can buy the rights to MooveGuru technology and get paid a percentage of all revenue in their territory. That company would do marketing while MooveGuru powers the platform.
