Check out the pitch deck that persuaded Peter Thiel’s Founders Fund to back Giraffe360 in a $16 million round to disrupt real-estate viewings
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- Giraffe360’s camera-based platform allows real-estate companies to create virtual property tours.
- The London-based startup secured $16 million in a round led by Founders Fund.
- Check out the 9-slide deck used to raise the capital.
A startup that aims to allow real-estate agents to create high-quality visual content for property listings has just raised $16 million in Series A funding from San Francisco-based Founders Fund.
Launched in 2016, London-based Giraffe360 says it has designed a state-of-the-art camera, which can be used to create floorplans and virtual tours, to allow real-estate brokers to create an immersive way to conduct a virtual property viewing.
CEO Mikus Opelts saw an uptick in virtual house viewings during the pandemic, and he is optimistic that virtual viewings will be key to real-estate listings in the future.
“At some point, real estate as a product — along with the decision of renting and buying — will move online,” he told Insider. “So 3D is one step closer to giving buyers that experience, and we saw that during Covid-19,” he added.
Giraffe360’s goal is to give real-estate brokerages — its primary client base — the tools to efficiently move house viewings online while maintaining customer satisfaction.
“Giraffe does both old content and new, from floorpans to 3D tours,” he said. Its product comes with a range of features, including AI editing tools to polish images, built-in LIDARs which scan a room to make accurate floorplans quickly, and software that creates 3D walk-through tours.
The startup makes its money by charging a fixed subscription rate for the use of its platform. Customers can buy quarterly or annual packages, and Giraffe360’s cameras are included so that customers don’t have to individually purchase them.
While it originally focused on building a hub of clients in London and the UK, it has now expanded to more than 30 countries — and counts Switzerland, Germany, France, and Malta among its biggest bases.
Amid an economic downturn, the startup found its biggest value proposition is helping customers save on costs, as they don’t have to outsource for photography and content creation. Opelts also added that its novelty, as one of the few real-estate media content suppliers which provides hardware, helped it to cinch the round with a notable investor: Founders Fund.
The startup’s Series A was led by the San Francisco firm, which was cofounded by controversial PayPal and Palantir billionaire Peter Thiel and has previously backed the likes of Airbnb, Spotify, SpaceX, and Facebook. Existing investors LAUNCHub Ventures, Hoxton Ventures, HCVC (Hardware Club), and Change Ventures also participated in the round. This brings the startup’s total amount raised to $22 million in equity, and $9 million in venture debt.
With the fresh funds, Giraffe360 says it will focus on improving its scaling capacity and streamlining its manufacturing and processing units, and plug the launch of its upgraded camera model, the Giraffe Go.
Check out the 9-slide deck used to raise the fresh funds.