Raising Big Funding: Insights from Rick Heitzmann & Court Cunningham

Orchard and FirstMark Capital: A Proptech Discussion

Established in 2017, Orchard entered the property technology (proptech) sector at a relatively early stage. Initially known as Perch, the company concentrated on assisting individuals engaged in simultaneous home buying and selling – a process known as dual-tracking.

Funding and Leadership

FirstMark Capital spearheaded both the Series A and Series B funding rounds for Orchard, demonstrating strong confidence in the real estate platform’s potential.

We are delighted to announce that Rick Heitzmann, Managing Partner at FirstMark Capital, and Court Cunningham, CEO of Orchard, will be featured guests on an upcoming episode of Extra Crunch Live.

This event is scheduled for May 5 at 3pm ET/noon PT. Registration is available here.

Orchard's Integrated Services

To date, Orchard has secured over $350 million in funding, including more than $200 million in debt financing.

Beyond operating a comprehensive brokerage for dual-trackers, Orchard provides both title and mortgage services.

However, the company’s most notable aspect is its innovative approach to the consumer experience. Orchard is pioneering a fresh perspective on home searching, an area that has seen limited advancement despite significant digitization efforts by larger technology companies.

Innovative Home Search Features

Orchard utilizes machine learning to deliver personalized home recommendations based on user preferences. The platform also allows users to search based on specific rooms within a house.

For instance, users can prioritize the backyard or kitchen, defaulting to images of those areas when browsing property listings.

FirstMark Capital's Investment Philosophy

Rick Heitzmann launched FirstMark Capital in 2008. He has been instrumental in investments within companies such as Pinterest, Airbnb, StubHub, Tapad, DraftKings, Riot Games, Ro, Discord, and Carta.

Extra Crunch Live: Insights and Pitch Deck Review

During Extra Crunch Live, the discussion will delve into Heitzmann’s criteria for identifying promising founders, his assessment of Cunningham, and the future trajectory of proptech.

Cunningham will also share the reasons behind his decision to partner with FirstMark.

Furthermore, we will examine Orchard’s initial pitch deck, providing valuable insights into its early stages.

Audience members will have the opportunity to submit their own pitch decks for review, receiving direct feedback from both a founder and an investor regarding their effectiveness.

Submit your deck for potential inclusion in a future Extra Crunch Live episode using this link.