I’m excited to finally be able to announce that our portfolio company PropertySimple closed a $3M round in the United States to help them continue to grow. I’ve been working closely with Adrian Fisher, PropertySimple’s founder and CEO, and team over the past year, helping them navigate their US market launch.
PropertySimple gives real estate agents the tools they need to compete in a social media powered world by harnessing the power of artificial intelligence. Their software as a service product drives leads and follows up on them for real estate agents and starts at $2500/month.
PropertySimple started out as PropiedadFacil, a Chilean property search portal back in 2012. PropiedadFacil was Magma’s first investment back in early 2014. They’ve gone through many ups and downs and pivots since we first invested. After building great technology in Chile but finding it hard sledding to get clients to pay for it, Adrian and I flew to the US to test out the US market.
After a 6 week road trip that started in California and ended in New York, where we met with investors and potential clients to try to find out if what Adrian and his team had build in Chile had any application in the US market, the answer was a resounding yes.
A year later, after translating the product into English and making improvements for the US market, PropertySimple launched and started to grow. We went back to Silicon Valley to try to raise money, but between a new, unproven product, an unbelievably low burn rate and a distrust of having a technology team in Chile, we couldn’t raise a round.
After continuing to grow, Adrian and team were able to show the traction they needed to show in order to raise a round in the US. I have very high hopes for PropertySimple and believe they’re onto something big.
It’s been extra fun to work with PropertySimple. Not only are they paving the way for businesses with Latin American and US offices, but also if anyone deserves to be successful, it’s Adrian. He has a tireless work ethic and has been working at building businesses for 10+ years. If you want to hear his story of how a kid born in Scottsdale, Arizona ended up in Argentina, Chile and then made his way back to California, listen to his Crossing Borders Podcast episode where we go into details.