press release
Issue 104 - October 7th, 2022
At our company, Pinnacle Realty Advisors, we made an exciting announcement this week regarding a fundraising round, an acquisition, and an exciting addition to our Board of Directors as we continue to push forward to build an industry defining brokerage platform.
Industry’s First “BaaS (Brokerage as a Service) Platform” Also Announces Acquisition of Realthy.io & Pivotal Board Appointment
Cloud-based real estate brokerage, Pinnacle Realty Advisors, announces the closing of its seed round led by Launchpad Capital and the acquisition of technology firm, Realthy.io, to fuel growth of the subscription-based real estate firm and bring transparent pricing and proprietary software to its agents. Launchpad Capital’s Founder, Ryan Gilbert, will join Pinnacle Realty Advisors Board of Directors.
Oakland-based Launchpad Capital focuses on early-stage financial technology investments. The round included participation from Mucker Capital and Dream Ventures. To date, the Pinnacle Realty Advisors has raised over $5M to introduce BaaS and modernize the outdated real estate brokerage model.
“Pinnacle Realty Advisors challenges the real estate industry’s outdated, commission split model and has a keen understanding of where the industry is heading. With legacy brokerage and housing sales on a downward trajectory the industry is ripe for innovation,” said Ryan Gilbert. “Pinnacle’s proprietary software and subscription-based services puts individual agents first with a focus on their businesses and success.”
Realthy.io is a Bay Area technology company, focused on building recommendation software for real estate agents. The startup surpassed more than 4,000 registered users in its first six months, servicing agents from over 40 states. The entire Realthy.io team of seasoned IT and digital marketing professionals has joined Pinnacle Realty Advisors and will drive the development of PinnacleHQ, Pinnacle Realty Advisors’ proprietary software platform.
Launched in 2020, Pinnacle Realty Advisors, is a modern real estate brokerage company reinventing the relationship between an agent and their brokerage firm. With this seed funding and acquisition, Pinnacle Realty Advisors doubles down on its commitment to put real estate agents first by building upon its unmatched suite of subscription-based services and products. The company will continue to give agents options to fit their needs; whether they prefer a full-service, cloud-based brokerage experience or a white label sponsorship brokerage product that allows real estate agents to have their own brand.
“We are reinventing the brokerage business model from the ground up because commission splits are dead and real estate agents deserve better – better tools, better services and better support which collectively lead to streamlining transactions,” commented Pinnacle Realty Advisors CEO Sam Sawyer. “Unlike legacy brokerages, our BaaS model is built to thrive in any market environment as it is unaffected by office costs, slowing transactions or commission-split revenue.”
Pinnacle Realty Advisors is currently licensed in Texas, Louisiana, and Arkansas with Florida and North Carolina launching soon. The company is fully remote with its headquarters in Dallas, TX.
About Pinnacle Realty Advisors:
Think outside the brokerage. Pinnacle Realty Advisors is a cloud-based brokerage company in the residential real estate industry offering the World’s first BaaS “Brokerage as a Service” platform. Launched in 2020 by industry veteran Sam Sawyer, Pinnacle Realty Advisors is building a modern brokerage service, reinventing the relationship between agents and their real estate brokerage. Pinnacle provides cutting edge tools, full-service agent support, and a subscription-based financial model that allows agents to keep more of their income – 100% of commission earned goes to the agents. Pinnacle Realty Advisors is currently licensed in Texas and Louisiana. Visit www.pinnaclera.com for more information.
About Launchpad Capital:
Launchpad Capital is an early-stage venture capital firm investing in the future of finance. Based in Oakland, CA, the firm has invested in over 65 financial services innovators from seed through Series B.
Newsworthy Links To Share
Market Map: 275+ Real Estate Technology Companies Transforming Today’s Housing Market (Thomvest Ventures)
An online platform that allows real estate agents to compete for listings has raised $20 million in its first funding round. BidMyListing scored a $15 million investment from Colorado-based Deer Park Road Management and raised a further $5 million in pre-seed funding, according to an announcement. (The Real Deal)
Tumble Cleans Up $7M Raise As Urban Centers Rethink Laundry (CrunchBase)
Compass jumps 18% on report of Vista Equity takeover interest (Seeking Alpha)
“Commercial real estate has been a notorious laggard when it comes to adopting technology. But a surge of investment in proptech in recent years is helping to transform many business practices within the space. Fifth Wall is a major venture capital firm focused on the global real estate industry and property technology for the built world. With the backing of institutional partners within the sector it has helped fund dozens of proptech startups. In this episode, David Bodamer is joined by Sarah Liu, a Partner of the Real Estate Technology Investment Team at Fifth Wall, to discuss what kinds of technology the industry is adopting.” (Wealth Management)
“RE/MAX Holdings Inc. is furthering its commitment to technology with its newest hire. Grady Ligon is the latest member of RE/MAX’s C-Suite, being named the firm’s chief information officer, according to an announcement on Monday. As CIO, Ligon will lead the technology and data strategy for the company and its franchise brands, RE/MAX and Motto Mortgage. In addition, he will oversee the product, engineering, technology security and compliance, and data functions, as well as lead the rollout of MAX/Tech powered by kvCORE, the all-new tech platform for the RE/MAX network, which is scheduled for 2023. Ligon has more than 20 years of experience in technology and data leadership. Most recently he has served as CIO for Fathom Realty and IntelliAgent, LLC, after serving as CIO at Berkshire Hathaway HomeServices for six years, and at Prudential Real Estate Services and Prudential Real Estate & Relocation.” (RealTrends)
25 Best Places To Live List from FORTUNE
PROPERTY HIGHLIGHT: Villa Serenia for $17,995,000 in the Hills of Los Angeles: A Tuscan masterpiece located in the double guard-gated Estates of the Oaks community. Sitting on nearly 1.5 acres of prime manicured grounds, this estate showcases 13,000 sq ft of luxurious living space.(Zillow)
