3 Year Hibernation, Milestones Emerge With $10M Funding

Milestones’ customer retention model isn’t entirely new, but the company hopes its new funding and team of backers can send a unique message to the market.

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After three years of product development, testing and refinement — a growth phase the tech industry calls “stealth mode” — a company called Milestones has emerged from its skunkworks slum with $10.3 million in seed funding. HAS.

The company is billed as an “all-in-one portal for homeowners, making it easier for consumers to buy, move, sell and manage their home,” in a launch announcement sent to Inman.

Updater, itself enriched after pocketing $60 million in funding at the end of 2021, was Milestones’ main source of funding.

Other groups involved in fundraising include Second Century Ventures (the strategic investment arm of the National Association of Realtors), Peerage Capital, McLaughlin Ventures, WAV Group Ventures, T3 Partners and Sellers Shield.

Naturally, the company is eager to meet the market.

Milestone’s customer retention model isn’t entirely new, but the company hopes its new funding and team of backers can send a unique message to the market.

“The average home has over 150 systems that need to be maintained, and consumers need help organizing it all,” Milestones Founder and CEO Dustin Gray said in the press release. “Gutters need to be cleaned, water filters replaced, concrete sealed, dryer vents cleaned, etc. Milestones has checklists for all of this, with DIY videos or access to professionals who will do it for you.

Claiming in the announcement to be “the first tech company to offer a homeownership portal similar to consumer offerings for healthcare, personal finance and education management,” a number of companies are invading this category, including options from major proptech stalwarts like Inside Real Estate, MoveEasy, and MooveGuru among several other players.

Product features include home value monitoring, home search, and intrinsic transaction management, which helps Milestones stand out slightly from the crowd, notwithstanding CORE Home from Inside Real Estate.

While home management apps aim to encourage homeowners to stay in close touch with the upkeep and therefore the value and market positioning of their homes, value for real estate agents is often a tough sell. However, home search tools and transaction tools can help remedy this, as they provide a direct line of constant contact with agents to help bridge the years between sales.

“Milestones is available free to consumers, in partnership with real estate professionals in brokerage, mortgage, title and insurance,” the statement said.

In a company-produced video introduction, Gray hits all the right notes when explaining her company’s intent, pointing out that a deal-oriented mindset can hinder an agent’s long-term success.

“[Instead]they should be a fiduciary advisor for all things real estate, no matter where someone was buying, moving, owning or selling.

Maintaining close contact after the shutdown is a major challenge for the industry. Years of home ownership create new relationships for clients and unseen marketing challenges for agents. Friends become agents, agents change brokerages, and alliances change.

The National Association of Realtors’ Profile of Home Buyers and Sellers found that 75% of buyers would use their agents again or recommend their agents to others, but just over half, 53%, do so. Actually.

Milestones hopes to tighten that margin and David Greenberg, Founder and CEO of Updater, is confident that the company’s approach and Updater’s influence will close the gap.

“Convenience and simplicity are core to the Updater’s mission,” Greenberg said in the release. “With
our shared vision to simplify complex homeownership processes, Updater’s investment in Milestones is a natural fit.

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