HouseCanary has announced the acquisition of Dropmodel, a tech startup with analytic and financial modeling solutions for the single-family real estate asset class. In addition, Dropmodel Co-Founder Tom Blake has joined HouseCanary as vice president of investor platform.
Dropmodel, founded in 2017, is a Web-based real estate financial modeling, analysis, and presentation application that includes a suite of smart, flexible models, calculators, and tools for the single-family real estate sector. It helps single-family real estate investors—across all strategies—“drop” their data into analytical models and get instant, comprehensive results that support data-driven business decisions.
“HouseCanary's acquisition of Dropmodel will support the company’s continued expansion into the investment side of the single-family residential industry,” said Blake. “By integrating Dropmodel into our product roadmap, we'll be able to leverage HouseCanary's best-in-class data and valuation capabilities to unlock innovative solutions that drive better outcomes for our clients.”
As a 50-state brokerage, HouseCanary helps investors buy and sell up to $200 million of properties each month. This acquisition will augment HouseCanary’s offerings providing investors with programmatic capabilities to buy smarter.
“We are excited about our acquisition of Dropmodel and how it will enhance our product offerings,” said Jeremy Sicklick, co-founder and chief executive officer of HouseCanary. “Dropmodel will add speed and clarity to our clients’ workflows to allow them to make investment and underwriting decisions faster and with more confidence. This is important today and, in the future, as our clients work with us to understand how market changes impact their business.”
Just last month, HouseCanary named Craig Phillips, former counselor to Secretary Steven Mnuchin at the U.S. Department of the Treasury,
as a senior advisor.
