Property search engine gets VC backing

Extate.com, a search engine which aims to rival Rightmove in its coverage of the UK property market, has won equity funding from a number of venture capital (VC) backers.

BytePlay, Extate’s parent company, received the funding from The Accelerator Group (TAG) and Arts Alliance, both technology-focused VCs, and early- to mid-stage investor Samos Investments.

Extate.com, a search engine which aims to rival Rightmove in its coverage of the UK property market, has won equity funding from a number of venture capital (VC) backers. BytePlay, Extate’s parent company, received the funding from The Accelerator Group (TAG) and Arts Alliance, both technology-focused VCs, and early- to mid-stage investor Samos Investments.

Like Rightmove and other major rivals, Extate is not a directory of properties but delivers information to property seekers direct from agents’ own systems. Unlike its competitors, however, Extate does not charge agents for its service. It aims to generate revenues from ‘premium features for agents and local, highly targeted ads’, according to its website.

Artemi Krymski, who founded BytePlay with fellow Imperial College London alumnus Douglas de Jager in March last year, comments: ‘Extate is the first application of the generic search technologies we are developing at BytePlay and in addition to financing the growth of Extate.com, this funding will enable us to explore other potentially interesting applications of our technology.’

Extate has also launched a similar service for South Africa.

Marc Barber

Raven Connelly

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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