Cartavi Closes Series A Financing, Led by I2A
Leading provider of document management solutions for mobile real estate professionals aims to expand operations through a first-round investment from a collective of prominent venture capital firms and business leaders.
Naperville, Illinois (PRWEB) October 30, 2012
Cartavi, the leading mobile document management platform for real estate, today announced that it has completed its Series A round of financing. The funding will enable the company to further extend its service to real estate professionals and accelerate the development of its cloud-based framework and mobile applications.
Cartavi's first funding round was led by the I2A Fund (I2A), with participation from the FireStarter Fund, OCA Ventures, and New World Ventures. Individual investors in the round included Gian Fulgoni, Executive Chairman & co-founder of comScore, Jai Shekhawat, CEO and co-founder of Fieldglass and Mike Gamson, SVP of Global Solutions at LinkedIn, among others. As part of the financing, Kapil Chaudhary, Managing Director and co-founder of I2A, will be joining Cartavi's board of directors.
Cartavi provides real estate professionals and consumers with one place to securely manage and share all of the documents that drive the purchase or sale of a home. Cartavi enables all of the participants supporting a transaction to efficiently collaborate in the cloud – from a desktop or laptop computer as well as through native applications that are available for the iPhone, iPad, Android phone and Android tablet.
Built as an open platform, Cartavi integrates with best of breed solutions in order to provide a comprehensive solution for real estate professionals when it comes to managing the full lifecycle of documents from creation through signature and archival. An example of this platform approach is Cartavi's integration with DocuSign – the global standard for electronic signature. Through this collaboration, Cartavi members are able to send documents out for electronic signature via DocuSign from within Cartavi on the web or their tablet device. This allows real estate professionals to expedite their transactions from start to finish – so all parties involved can keep the transaction moving to close faster.
“We are extremely honored to have the support of an exceptional group of investors to help fuel the growth of our company, and very pleased that they share our vision for Cartavi,” said Glenn Shimkus, Cartavi co-founder and CEO. “The business of real estate is in a state of transition as both brokerages and agents strive for enhanced customer service, and the efficiencies and savings that mobile and paperless solutions promise to bear. Our purpose is to provide these professionals with a powerful yet simple solution to achieve this goal.”
Cartavi was designed from day one to address the needs of the mobile real estate professional. “Mobile is in our DNA and we believe that not only do we provide the industry's most complete mobile solution for managing documents but we provide the greatest coverage of the devices used in the real estate industry,” said Paul Koziarz, co-founder and CMO of Cartavi. “In fact, more than 50% of our daily logins take place via our native mobile apps. Furthermore, in the past 60 days alone we've seen an 85% increase in the number of iPads on which the Cartavi mobile app is utilized. With more consumers embracing mobile devices to stay connected and manage their lives, the need for agents and service professionals to be accessible and responsive is more critical than ever.”
“The Cartavi founders and their team have done a remarkable job at identifying a significant market need in real estate, and in developing an innovative solution that provides mobile professionals with an advantage over those who haven't invested in similar technology for their business,” said Kapil Chaudhary, Managing Director and co-founder of I2A. “Cartavi's approach to managing paperless transactions, combined with the product vision and experience of the management team, made our decision to invest an easy one.”
“Cartavi solves a real problem, especially from a consumer's perspective,” said Mike Gamson, SVP of Global Solutions at LinkedIn. “I was first attracted to the company because I have recently been part of several real estate transactions and personally experienced the pain that Cartavi resolves. The elegance and simplicity of the product interface and the effectiveness of the solution impressed me. After meeting with the founders, I became more interested in being involved because of their shared passion for solving the document problem in real estate. I am convinced they will and I'm looking forward to being a part of the company's growth.”
Cartavi is a cloud-based document-sharing solution designed specifically for real estate professionals. Also available as a mobile app for Apple and Android devices, it allows everyone involved in a real estate transaction to securely manage and share documents from any computer, tablet, or smartphone. Founded in 2009, Cartavi is based in Naperville, Illinois. For more information, visit cartavi.com.
I2A is a Seed/Early Stage Venture Capital Fund focused on catalyzing and partnering with the next wave of successful entrepreneurial companies in Chicago and the surrounding regions.
I2A was co-founded and launched by many of Chicago's most prominent business leaders and entities. These leaders of their respective industries have not only invested in I2A but also are committed to helping I2A's portfolio companies with their collective expertise and networks. For more information visit i2afund.com.
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