Redefy Holdings, Inc., Secures Funding for Software Development and Future Acquisitions
September 06, 2018
DENVER, Sept. 6, 2018 /PRNewswire/ -- Redefy Holdings, Inc., a disruptive technology company that is transforming the real estate market, today announced that it has raised equity capital from a private investment group led by James E. Albertelli. This transaction places Redefy's post-funding valuation at $25 million and is the company's first capital raise following the appointment of Chris Rediger as Chief Executive Officer in July 2018. As a result of this transaction, James Albertelli will be appointed to the Redefy Holdings, Inc., Board of Directors. Financial terms of the transaction were not disclosed.
Proceeds from this transaction will be used to further develop Redefy's proprietary software platform and to fund future acquisitions, which will serve to expand Redefy's national footprint. The new software will bring standards and consistency to the real estate market, providing a far better user experience by making the transaction process easier and safer for brokers and customers alike.
"We believe that Redefy's technology platform and business model has the potential to truly disrupt the real estate market," said James E. Albertelli. "We are excited to be involved in fueling the company's growth."
"This funding positions Redefy well to enhance our software platform and begin to consolidate fragmentation that exists in the real estate market. We are excited to partner with Jim, who sees the opportunity to make meaningful changes in the space. The added equity capital will allow us to increase our footprint and help further our goal of providing consumers with a better way to sell a house and save them thousands of dollars in the process," said Chris Rediger, Chief Executive Officer of Redefy, Holdings, Inc.
About Chris Rediger
Mr. Rediger is Co-Founder and Chief Executive Officer of Redefy Holding, Inc. He has more than 14 years of new home construction and residential real estate experience. Prior to founding Redefy, he managed a $12 million residential real estate investment pool devoted to buying distressed homes or half-built properties, completing them and then renting or selling the finished assets. Mr. Rediger graduated with a Bachelor's degree from Colorado State University in Fort Collins, CO.
About James E. Albertelli, Esq.
James "Jim" Albertelli is an accomplished litigator, investor, real estate entrepreneur and professor. An entrepreneur in real estate and law, he founded ALAW, a premier creditors' rights law firm serving our nation's top financial institutions, Oversite Data Services, known for its award-winning BestX litigation oversight solutions and PREO, the online marketplaces for foreclosure auctions and mortgage originations. Jim is a graduate of The University of Florida (B.S. Finance) and Emory University College of Law (Juris Doctor).
Redefy is a disruptive technology company that is transforming the real estate market. Redefy offers full-service real estate sales services for a $3,000 flat fee and passes the commission savings onto the home owner. Redefy does business in key states and major metro markets across the U.S., has quadrupled its sales over the past three years, has raised over $11.5 million in capital and had 2017 revenue of $8 million. Redefy has been acknowledged for its innovation and growth by several leading sources. Redefy was named one of "Inman's 2017 Most Innovative Brokerage" award finalists; was one of Inc. 500 List's 2016 "Fasting Growing Companies" (Final Rank #103), "2016 Top 5 Real Estate Companies", "2016 Top Denver Company" and "2016 Top Colorado Company"; Denver Business Journal's 2016 "Top 10 Best Places to Work (Medium Sized Company category); and was named a finalist for "Inman's 2015 Most Innovative Real Estate Company" award.
Contact: William Passan
Vice President, Business Development