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Avenue 8 Raises $14M in Series A Funding
Avenue 8, a San Francisco, CA-based mobile-first residential real estate brokerage, raised $14m in Series A funding.
The round was co-led by Threshold Ventures and Craft Ventures with participation from Zigg Capital, and Good Friends. In conjunction with the funding, Craft Ventures general partner Jeff Fluhr will join Avenue 8’s Board of Directors.
The company intends to use the funds to accelerate growth, expand into major markets like New York City and Miami later this year, and enhance product development.
Co-founded by Justin Fichelson and Michael Martin, Avenue 8 is a digital and mobile-first residential real estate brokerage for modern agents, working through a mix of automation and human expertise.
Avenue 8 co-founders Justin Fichelson and Michael Martin. (Avenue 8, Getty)
A week before the country went into lockdown last year, Avenue 8, a mobile-first residential brokerage, made its first agent hire. Now, the company has nearly 100 agents and said Monday that it has nabbed $14 million in new funding.
The San Francisco-based company said the Series A will fuel its expansion beyond Southern California to new markets, including New York and Miami.
“Brokerages of the past functioned as companies that agents worked at,” said Michael Martin, who co-founded Avenue 8 with Justin Fichelson, a Bay Area agent who previously appeared on Bravo’s “Million Dollar Listing San Francisco.” “Brokerages of the future will have a much more integrated suite of offerings and support for both agents and consumers.”