Four-year-old online residential real estate publisher Trulia Inc. on Thursday announced $15 million in new funding aimed at boosting its rise among advertising-supported sites dedicated to providing listings, data and user-generated content for buyers, sellers and agents.
San Francisco-based Trulia brought in Deep Fork Capital LLC of Menlo Park, Calif., to lead the deal, joined by previous investors Sequoia Capital, also of Menlo Park, Accel Partners of Palo Alto, Calif., and Houston-based Fayez Sarofim and Co. Trulia founder and CEO Pete Flint said the round brings total investment in the company to $33 million and is expected to be the company's final institutional investment. The proceeds will be largely dedicated to shoring up the company's balance sheet, he said.
Trulia attracts about 5 million unique visitors a month and is ranked seventh among online residential real estate sites (Realtor.com is the leading real estate site) based on data compiled by ComScore Media Metrix, Flint said. With the new investment, the company will accelerate technology development to offer expanded services and features on its site to attempt to boost market share, he added, though the expansion may be fueled entirely by advertising revenue.
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