Virtual View App secures $500K in seed funding

March 24
8:09 AM 2014

London-based Virtual View has secured $500,000 in seed financing, TechCrunch reported.

The names of the private investors who gave the funding were not disclosed but they came from finance and professional services sectors. This is the only external financing the company co-founded by Domenic Versace has received so far, the report said.

Proceeds from the funding round will be used by the startup to add more people to its workforce, improve the platform and grow the company in the UK and other property markets. The startup is now coming up with a new product that it says is similar to "Street View" by Google but targeted for a property's internals, the report said.

Virtual View App describes itself as an "augmented reality property app." It is a publishing platform designed with property marketing in mind. Available in Android and iOS, users simply scan a Virtual View App-enabled image with the use of their mobile devices. Doing so gives them access to more digital content such as 3D property models, floor plans, photo galleries and videos. In addition, campaigns on Virtual View App may also have links to important content such as websites and social media sites of an agency. It's easier to think of it as similar to Layer or VirtualMob but targeted to property marketing, the report said.

Virtual View App is pitching to estate agents by saying that they will be better able to get more new properties and give potential buyers and tenants the chance to look into property through a more interesting and engaging manner. This naturally leads to more sales and rentals, the report said.

Virtual View App also has an analytics angle to it because each campaign can be tracked. As a result, ROI can be measured and campaigns accounted for. Estate agency groups in the UK such as Fine & Country, Campsie, Newman, Orchard & Shipman, Harrods and Jackson Stops are already collaborating with Virtual View App. It is also already working with estate agents abroad on a trial platform, the report said.

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