TurboAppeal, the Chicago, IL-based startup that's providing people with a revolutionary way to deal with property tax appeals, announced today that it has raised a $1.5 million investment from @Properties, Hyde Park Angels, and Hyde Park Venture Partners (HPVP). Currently operating in Cook County, IL, this new funding will allow the company to expand to five states in the next 24 months, as well as help them to continue improving their Big Data-enabled property tax appeals technology.
“Appealing your property taxes is an overwhelming and needlessly complicated process,” said HPVP partner Ira Weiss in a statement. “TurboAppeal is able to simplify this process not only by bringing in [B]ig [D]ata, but by bringing in techniques to help apply that big data in a way that works most effectively for clients. We are very excited to be involved in this investment and we think TurboAppeal is going to forever change the face of property taxes.”
TurboAppeal – which launched earlier this year, and pitched at Tech.Co's Tech Cocktail Startup Celebration at SXSWi 2015 – brings together Big Data, analytics, and data mining to create a technology solution that greatly streamlines the property tax appeals process. Typically, consumers must go through a tax attorney in order to sift through all the paperwork and work their way through the appeals process. With TurboAppeal, homeowners simply have to fill out a short form on the company's website in order to file and process and appeal.
In the short, few months since its launch, TurboAppeal has seen more than 4,000 homeowners sign up to use its property tax appeals technology. According to CEO Badal Shah, they're currently the number one property tax appeal service for single-family homes in Cook County. Because of the success they've seen there, they plan to expand their services to Florida later this year.
This past February, we interviewed TurboAppeal COO and cofounder John Guidos, where he shared with Tech.Co the significance of property tax appeals and how they can save many homeowners thousands of dollars.