Ownwell, an Austin-based property tax monitoring and appeal services provider, has raised 50 million in Series B financing. The round included 30 million in equity and 20 million in debt. Equity investors included Alpha Edison and Mercato Partners, with participation from Intuit Ventures, Left Lane Capital, First Round Capital, Long Journey Ventures, PROOF Fund, and Wonder Ventures. Debt financing came from Western Alliance Bank, Member FDIC.
The funding brings Ownwell's total capital raised to 74 million. The company plans to use the capital to expand operations and accelerate product development. CEO and Founder Colton Pace emphasised the importance of helping homeowners manage rising property taxes.
"Homeownership is at a tipping point in America," said Pace. "Many people struggle with property taxes, mortgage payments, and insurance. Investment firms have experts to reduce costs. We are bringing that expertise to the average homeowner, with the click of a button."
