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Elliman parent makes latest investment in proptech sector


Douglas Elliman parent company, Vector Group’s PropTech
investment venture, New Valley Ventures, has invested in proptech company,
Humming Homes, a New York-based tech-enabled home management service.
Humming Homes, founded by Adeel Mallick, CEO, Kyle Carnes,
Head of Operations and technology entrepreneur Kevin Ryan, Chairman of the
Board, is creating a new category of end-to-end home management. It has built a
tech-enabled solution for single family homeowners with a digital-first
experience, offering a dedicated in-person home management team with a single
point of contact, 24/7 support, and employs data and insights to avoid reactive
and expensive home maintenance issues.
“New Valley Ventures is dedicated to investing in new tech-enabled services that will benefit real estate agents and their clients and customers,” said Dan Sachar, Managing Director of New Valley Ventures and Vice President of Enterprise Innovation for Vector Grou ....

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Douglas Elliman Parent Company Vector Group Launches PropTech Investment Venture


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Vector Group Ltd. (NYSE: VGR) today announced the launch of New Valley Ventures, an investment vehicle seeking opportunities in next-generation technologies in the property technology (PropTech) space. New Valley Ventures will invest in promising PropTech startups committed to supporting rapid transformation of the real estate industry for the benefit of the agent experience.
In connection with the launch, Vector Group also announced New Valley Ventures has acquired an ownership stake in Rechat, a lead-to-close fully-mobile technology dashboard for real estate agents. New Valley Ventures’ affiliate, Douglas Elliman, is the largest residential real estate brokerage firm in the New York Metropolitan area and the sixth-largest in the United States. ....

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