Mobile-First Real Estate Brokerage
Co-founded in 2020 by Martin and entrepreneur Justin Fichelson, Avenue 8 brings real estate agents a suite of industry tools in a convenient mobile app platform. Through the use of its mobile app and digital platform, the startup company aims to help agents easily manage clients and campaigns while keeping more of the money they earn from sales.
The Avenue 8 app allows real estate agents to set up marketing campaigns and promotions within the platform. Agents simply set the amount they want to spend on the campaign and access the necessary materials from the app. Additionally, Avenue 8 users can quickly sort through their listings and clients on the app through one consolidated dashboard. All the tools provided by the app are included with a membership subscription, and the company charges a fixed fee for each transaction.
“Avenue 8 has validated strong demand with the current and next generation of realtors and consumers,” said Chirag Chotalia, Partner at Threshold Ventures. “Justin and Michael are founders with the innate ability to recruit next-level operators, enabling the company to gain traction and capitalize on the clear market gap between a high-value brand experience and an agent-aligned business model.”
Breaking Into the Proptech Business
Avenue 8 is tapping into a growing market. According to a report from global investment bank GCA, the US proptech industry raised roughly $7.3 billion in equity and debt financing in 2020. Investors are showing significant support for proptech businesses like Avenue 8. Proptech startup 99.co, a potential rival to the startup company, has raised over $33 million from investors so far.
About the Author
James White is a Michigan State University graduate with a BS in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.