National Association of Realtors Leads $8 Million Investment in Ifbyphone

December 28, 2010

8:00 pm

Chicago-based Ifbyphone announced today that they raised another $8 million in funding. The National Association of Realtors has invested in Ifbyphone through its strategic investment fund, Second Century Ventures. As part of the arrangement, NAR is also collaborating with Ifbyphone to develop solutions that enhance voice interactions for its more than 1.1 million realtors.

We interviewed ifbyphone CEO Irv Shapiro in November and shared how they can help small and medium sized businesses with their telephony solutions. The Ifbyphone suite includes solutions for call tracking, customer notifications, interactive voice response, and a virtual call center. According to a recent report:

“NAR established Second Century Ventures to bring Realtor-focused solutions to the real estate marketplace,” said NAR President Ron Phipps in a statement. “In Ifbyphone we’ve identified a partner who can help our members grow their businesses.”

NAR also recently invested $2 million in DocuSign Inc. who offers an electronic signature service for realtors. This is Ifbyphone’s series B round of funding, doubling the amount of investment that Ifbyphone raised. Previous investors in Ifbyphone include CEO Irv Shapiro, Apex Venture Partners, Origin Ventures, Spring Mill Ventures and the i2A Fund bringing the total to $16 million in venture funding.

Did you like this article?

Get more delivered to your inbox just like it!

Sorry about that. Try these articles instead!

Frank Gruber is the cofounder, CEO and Executive Editor of Tech.Co (formerly Tech Cocktail). He is the author of the book, Startup Mixology, Tech Cocktail’s Guide to Building, Growing, and Celebrating Startup Success. He is also a startup advisor and investor to startups.

Find Frank Gruber online and follow him on Twitter at @FrankGruber.

  • Shares

Leave a Reply

  • (will not be published)