Realty Mogul, a Microsoft-backed real estate crowdfunding site that allows investors to collectively back real estate projects, has secured $9m in its series A round.
The round was led by Canaan Partners, which joined TechStars, VoiVoda Ventures and Melkonian Capital Management in the round. Microsoft Accelerator, a seed programme run in conjunction with TechStars, provided seed funding for Realty Mogul in 2012 and the company has now raised about $10.1m in total.
Founded in California in 2012, Realty Mogul provides real estate investment opportunities that investors can back through crowdfunding. The service is open to accredited investors with a minimum annual income of $200,000 or a net worth of $1m.
The company reached a milestone in December 2013 when it hit $10m in crowdfunding, and the next goal is to increase the number of investments available on the site. It has invested roughly $14.6m in assets collectively worth more than $100m.