A third of American households are underemployed or unemployed, and they spend about 30% of their income on housing. Fortunately, the housing industry is catching up with the changing times and offering affordable options to qualifying buyers.
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The most important fact to remember is that a lot of people are in the market for a new home. For a lot of them, the cost of moving is a significant factor in their decision making process. Thankfully, there are companies like Promise who are working hard to keep them in their new homes.
The company is led by a trio of tech-savvy execs. They are Scott McGregor, VP of Technology; Mike Sullivan, CTO; and Matt Aylesworth, VP of Business Development.
The team also has an impressive roster of investors including Formation 8 and SoftBank Vision Fund. The team has raised $20 million in its first round of funding. This round will help the company expand its footprint into more markets and further their mission of providing affordable homes to those in need. The aforementioned execs have been in the startup game since 2009 and know a thing or two about building a solid business model.