Linear, a company dedicated to the digital transformation of real estate brokerage, has successfully concluded a €1.1 million seed funding round. Founded in 2018, the company specializes in providing an AI-driven digital ecosystem to streamline the housing trade. The recent funding will be allocated towards future growth initiatives and expanding into new markets.
Linear empowers real estate agents with a comprehensive SaaS (Software as a Service) automation tool designed for sales process management and customer acquisition. The platform also offers various digital marketing tools, including virtual apartment tours and interior designs. By leveraging Linear, realtors can reduce manual workload, enabling them to concentrate solely on the sales process, significantly boosting their annual sales capacity.
Currently, Linear boasts a user base of over 600 registered realtors from the majority of Finland’s largest real estate agencies.
Digital Services Propel Growth in Real Estate
The real estate sector has witnessed substantial growth in digital services and concepts, facilitating house sales without realtors. Miro Eriksson, CEO at Linear, remains confident that realtors will continue playing a crucial role in real estate selling.
“While many opt for independent home sales, from consumer to consumer, we believe that realtors will maintain a strong position in the market. We are pleased to provide them with a new solution to simplify and enhance their work. Closing this successful investment round boosts our confidence to develop our products and services further,” states Eriksson in a press release.
The funding round was led by Investor Ventures (FIN), with participation from institutional and private investors, along with the continued support of the company’s initial backer, Superhero Capital (FIN).
This marks Superhero Capital’s follow-on investment in the company, as the Helsinki-based venture capital firm initially invested in Linear’s pre-seed round in 2019.
Jakob Storå, Founding Partner at Superhero Capital, expresses enthusiasm about Linear’s unique value proposition, stating, “We became excited about Linear because their service benefits realtors as well, making their job easier and more efficient. The fact that more than 600 realtors have already used Linear’s services speaks for itself.”
Despite the platform’s launch in 2019, Linear has exhibited robust growth, with a 14 percent month-over-month increase in revenue during the first half of 2020.