May 11, 2017
In 2015, TurboAppeal, a Chicago-based, leading technology firm that utilizes big data analytics and proprietary software solutions to help both commercial and residential real estate owners gain insight into their property values and automate the tax appeal process, was one of the five finalists in our Startup of the Year competition.
We’ve been following their progress and growth and since then: they’ve raised $5.7M in capital, totaling $7.2M, to be used for multi-city expansion.
Back in the August 2016, TurboAppeal launched their a new commercial tax appeal product through a partnership with Paradigm Tax Group, a national property tax consulting firm that serves all 50 states. Today, they have acquired TurboAppeal to solidify that they are the only technology-enabled property tax service and product solution for owners of both commercial and residential real estate to date.
Together they are looking to combine TurboAppeal’s technology and Paradigm’s ASCEND system and transform the way property taxes are managed.
Baal Shah, cofounder and CEO of TurboAppeal, now Chief Marketing Officer of Paradigm Tax Group said he believed approximately 70 percent of homes are over paying on their property taxes and wanted to provide a solution for homeowners. With this acquisition, the homeowner can sign up in less than 30 seconds. Then their algorithm works through the data to generate the most accurate evidence for the homeowner. As of Fall 2016, TurboAppeal saved property owners close to $10MM in property taxes.
“We are ecstatic about the opportunity to join Paradigm Tax Group,” said Badal Shah, co-founder and CEO of TurboAppeal and now Chief Marketing Officer of Paradigm Tax Group. “We have always recognized Paradigm as the most forward thinking national property tax firm with the strongest value proposition in the market, and believe TurboAppeal’s capabilities will further strengthen Paradigm’s position.”
Frank Gruber, founder of TechCo Media, Inc is an advisor to TurboAppeal.
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