Ownwell, a technology firm specializing in property tax appeals, has announced a successful $50 million Series B funding round aimed at tackling the nationwide crisis of rising homeownership costs. This new capital injection, which brings the company's total funding to a substantial $74 million, is designated to fuel its national expansion and further product innovation. The announcement coincides with a major milestone for the company, having now surpassed over $400 million in total property tax savings for American homeowners.
Addressing a Growing Homeowner Crisis
This strategic funding arrives as American homeowners face a significant affordability crisis, with a recent Ownwell survey indicating that 74% are worried about increasing property taxes. Despite this widespread concern, the inherent complexity of the appeals process deters many, as only 22% of respondents have ever challenged their property tax assessments. Ownwell aims to bridge this critical gap by providing accessible, user-friendly tools to help ordinary citizens navigate what is often a confusing and intimidating system.
Technology-Driven Tax Appeals
At its core, Ownwell utilizes a proprietary platform powered by artificial intelligence to demystify and streamline the entire property tax appeal process for its clients. The company's technology automates historically complex steps and analyzes millions of local property records to build the strongest possible case for a valuation reduction. This sophisticated, data-driven approach has resulted in an impressive 86% success rate across its main service areas, yielding average annual savings of $774 per customer.
Strategic Funding and Expansion
The comprehensive $50 million financing package is strategically structured, consisting of $30 million in equity and $20 million in debt financing from Western Alliance Bank. The equity portion was led by venture firms Alpha Edison and Mercato Partners, with notable participation from Intuit Ventures and continued support from early backers. These funds are earmarked for enhancing Ownwell's core technology and aggressively expanding its services to assist a greater number of homeowners across the United States.
Broadening National Access
Coinciding with the funding announcement, Ownwell has launched its innovative National Appeals Packet to extend its powerful resources beyond its primary service areas. This new digital tool leverages AI to provide homeowners with a personalized, ready-to-file appeal packet complete with compelling supporting evidence and clear filing instructions. The initiative empowers property owners in any location to confidently manage their own appeals by using the company's expert-backed data and proven tax logic.
Investor Confidence and Market Impact
Investors have expressed strong confidence in Ownwell's disruptive model, with Ryan Sanders of Mercato Partners noting the company is redefining an opaque and labor-intensive market. Similarly, Selina Troesch from Intuit Ventures praised the platform for creating a simple, "done-for-you" experience that brings much-needed transparency to a complex process. This robust support underscores Ownwell's proven success in processing over one million appeals and expanding the market to include hundreds of thousands of first-time appellants.
With its latest funding round and the strategic launch of the National Appeals Packet, Ownwell is strongly positioned to scale its impact on homeowner affordability nationwide. The company’s technology-first approach continues to democratize a process once reserved for those with specialized legal expertise, leveling the playing field for the average property owner. As it expands its reach, Ownwell reinforces its core commitment to empowering individuals and providing tangible financial relief in an increasingly challenging economic climate.