Class Valuation has announced that it has made an equity investment in and are partnering with InsideMaps, a technology company using computer vision to digitize the home, to lead innovation within the valuation and mortgage space. This partnership will allow Class Valuation to develop modern solutions designed to meet the needs of the evolving mortgage industry.
InsideMaps’ technology generates 3D tours and models of both the interior and exterior of homes while also generating a detailed data set. Their easy and affordable solution can be deployed at scale while also ensuring consistent, high-quality results each and every time.
“We could not be more excited about partnering with Class Valuation," said Founder and Chief Executive Officer of InsideMaps, George Bolanos. “Class Valuation's proven execution strength and entrepreneurial speed make them ideally suited to spark industry-wide adoption of this next-generation home inspection process.”
Class Valuation plans to roll out the new technology through a phased approach, partnering with industry stakeholders to ensure it meets the needs of lenders, appraisers, providers, and governing bodies.
“There are many benefits of having a digital rendering of the home as we modernize the appraisal process including, but not limited to, bringing consistency and credibility to the inspection of a property. Furthermore, it provides a lasting impression of the home at the time of inspection, which provides many downstream benefits–one of the most important being fraud prevention,” said Class Valuation Chief Innovation Officer Scot Rose.
Class Valuation Chief Executive Officer and Partner Mike Detwiler said, “We know our industry is on the brink of change within the valuation space, and it will take leaders in every category partnering together to bring about the future. We are committed to being that driving force and see InsideMaps as just one way we will help the industry move towards sustainable, long-term modernization.”