Nomad Homes Announces $4M Seed Round

Nomad Homes, which is building a managed marketplace to allow users to not just search but also finance and complete the paperwork for residential real estate, announced Wednesday it has raised a $4 million seed round led by Comcast Ventures with participation from Abstract Ventures, Partech, Precursor Ventures, WndrCo, and Class 5 Global.

The company was started in Palo Alto by Helen Chen, a former Blackstone private equity investor who dropped out of the Stanford Graduate School of Business to start the company after she discovered how outdated property technology was in the Middle East and Europe. Nomad is now headquartered in Dubai but the engineering team is based in Los Angeles, led by Yury Velikanau, who was formerly the lead engineer at PeerStreet. The seed round will be used to grow Nomad's engineering team as well as grow its marketplace and services.

"L.A. has a deep pool of engineering talent across all verticals, but especially in fintech (e.g., PeerStreet, Open Listings now Opendoor, and Tala)," Chen wrote in an e-mail. "What really stood out to us is that many of the engineers we spoke to also have a passion for real estate, which aligns well with Nomad's mission."

Other co-founders include Chief Product Officer Dan Piehler, previously a senior product manager at Addepar, and Chief Operating Officer Damien Drap, an early employee at Uber who launched and lead Uber Eats across the Middle East.

"Helen and the team bring a unique blend of Silicon Valley DNA, real estate insights and on-the-ground operating experience," said Daniel Gulati, a Managing Director at Comcast Ventures. "We are excited to support Nomad's quest to deliver a superior experience for all market participants with a technology-first approach."

Nomad is focusing on Dubai and eventually other Middle Eastern and European cities because shopping for real estate is much more difficult without the MLS listings that Zillow and Redfin use to create a more user friendly experience in the United States.

From Your Site Articles
Related Articles Around the Web

Subscribe to our newsletter to catch every headline.

Less than 24 hours before dot.LA launched a year ago today, I was coming back into cell service after a hike in Mandeville Canyon when I received a flurry of texts and push notifications: Kobe Bryant had died.

Like many who had grown up watching the Black Mamba tear through global basketball, the sudden loss of such an immortal figure shook me. Since moving from the floor to the rafters at Staples Center, Kobe had plunged into the startup world with his typical ferocity and excellence. He became an influential tech investor as a partner at Bryant Stibel.

Read more Show less

One brisk Friday evening in January at around 9:30 p.m., 15-year-old Ella rushed down the stairs of her home in Stevenson Ranch, California with an announcement for her parents, who were watching "Lupin," a new Netflix series, in the living room.

"Can you get off of Netflix in 15 minutes?" she asked. "I'm having a watch party at 10. Thanks."

Every few weeks, Ella and her four best friends assembled at their laptops, snacks and drinks in hand, to watch something on the popular streaming service with Teleparty, a browser extension that lets users view the same Netflix movie or show at the same time. On tap for tonight? Two episodes of "Gilmore Girls," a show Ella and her "best friend crew" had never seen. Although Ella, whose parents asked us to withhold her full name because she is a minor, couldn't be in the same room with her girlfriends, this solution proved the next best thing — and for the girls that night, it was.

Read more Show less

Students at the University of California, Los Angeles can now have pizza, coffee and groceries ferried to their dorms via six-wheeled autonomous robots.

Starship Technologies, a a San Francisco-based robotic food delivery service launched in 2014 by two Skype co-founders, announced Wednesday it is adding the leafy Westwood campus to its roster of delivery locations after raising an additional $17 million in funding. The company started operating at the University of California, Irvine, last year.

Read more Show less
RELATEDEDITOR'S PICKS

Trending