Buyside has announced $10 million in equity funding and said it’s changing its name to Percy.
Percy’s consumer engagement platform uses artificial intelligence to identify consumer intent and empower agents, brokers and now mortgage lenders to engage their consumers at the right time for their next opportunity, the company states. The name Percy was derived from the company’s first investor—a great uncle to the founder—and has long been the name of the engine behind the solution.
“Many people were hung up on the name ‘Buyside’ when in fact we are much more—we are the top seller lead generation tool for real estate,” says Chief Executive Charles J. Williams IV. “The new brand allows us to expand into new markets like mortgage, bringing purchase loan opportunities to originators.”
The company says Percy has had remarkable growth and currently serves brokers representing 60% of all transactions in real estate. In the first quarter of 2022, the productivity of the application showed a 36% increase in homeowner subscriptions and a total of $71.7 billion in transaction opportunities, up almost $20 billion from Q1 of 2021, the company stated.
Prosperity Home Mortgage, with 565 loan officers across the United States, is one of the recent launches of Percy.
“With Percy’s success and adoption from our real estate brands, it only made sense for PHM to leverage the same application for our loan officers,” says Ron Wivagg, national sales manager for Prosperity Home Mortgage. “We now have a tech ecosystem that services both the real estate and mortgage businesses, which helps us maintain oversight of our client’s intent to transact.”
The strategic round includes fintech and real estate industry firms Howard Hanna Real Estate Services and Leading Real Estate Companies of the World. Percy intends to use the investment to dedicate marketing, sales and systems integration resources to fuel revenue growth and expansion, they said.
For more information, visit percy.ai.
