Recruit plans to help the company develop peripheral services related to property sales and improve the scalability of its property search engine, which is currently in beta.
Tokyo-based Recruit Holdings has invested in multiple tech firms since its establishment in 1960. The group operates at least 18 recruitment, auto, and real estate sites in Japan, along with dozens of staffing companies and recruitment sites like Indeed.com and Glassdoor.
Recruit didn’t disclose the terms or price of its investment but the media is speculating that Properly raised $12 million in equity and $10 million in debt financing. Other investors were Prudence Holdings, FJ Labs, and Golden Ventures.
Founded in Apr. 2018, Toronto-based Properly assesses the price of properties based on more than 100 data points, like layout, property features, location, surrounding environment, and traffic conditions. It buys real estate directly from sellers and resells it itself.