Aussie Start-up OpenAgent raises $6 million

Australian real estate comparison site OpenAgent has announced a $6 million funding round and welcomed Hollard Insurance founder Richard Enthoven to its board.

OpenAgent co-founder and co-CEO Zoe Pointon said her firm was Australia’s leading real estate comparison site, and the funding will be used to drive awareness and improve user experience.

In an interview with The Australian last year she described her business as “like the LinkedIn or TripAdvisor for real estate agents.”

The website uses data from more than two million sales and has assisted in the sale of $2.6 billion of Australian property.

“Having the people behind companies like Hollard Insurance and Greenstone Ltd. invest in us is incredibly humbling,” Ms Pointon said.

“Richard is a big supporter of our direction, and has been a mentor to both me and my co-founder Marta Higuera for the past year and a half. His own entrepreneurial spirit and experience growing companies that help Australians make important financial decisions will be invaluable to OpenAgent.”

The raise comes from Hollard Investments, which has also invested in Greestone Ltd and Holland Insurance in Australia.

Richard Enthoven, founder and managing director of the Hollard Australia Group, started the Australian arm of the global company in 1999.

“I’ve worked closely with Zoe and Marta over the last 18 months and have watched them achieve each ambitious goal they have set for themselves and the business,” Mr Enthoven said.

“There is an undeniable need for greater transparency and quality assurance in the Australian real estate industry, and this investment in OpenAgent will allow them to provide this service to more consumers. I think we are only scratching the surface of what is possible in the Australian property industry and I’m excited to get involved at this stage of the company’s growth.”

This round takes OpenAgent’s total funding to $8 million and follows $2 million investment in 2013 and 2014 a group of angel investors.