AI Real Estate Platform Mogul Raises $15.5M Series A
Mogul, the Washington-based real estate investment platform, has closed a $15.5 million Series A funding round led by Draper Associates. The investment, which exceeded the company's initial $10 million goal by 55%, brings its total funding to over $23.6 million and establishes a company valuation of $126 million.
Founded in 2022 by former Goldman Sachs investors Alex Blackwood and Joey Gumataotao, the platform utilizes artificial intelligence to automate property underwriting and supply management. By integrating AI, the firm has reportedly reduced manual processing time per property from 18 hours to two, allowing a team of 11 to manage more than 150 assets. Despite already being cash-flow positive, leadership opted to accelerate the round following significant inbound interest from venture capital firms.
The capital injection is earmarked for expanding the company's engineering and data science teams, as well as scaling its property portfolio. Mogul reported 14.5x revenue growth between 2024 and 2025 and is currently on track to reach a $9 million revenue run rate by the end of the year. Investors in this round include Tim Draper, the Avalanche Blizzard Fund, and BlueChew co-founders Stephen Sullivan and Dr. Alex Jovanovich, the latter of whom provided the largest individual check.
Blackwood intends to use the funding to transition Mogul into a vertically integrated ecosystem for real estate assets. The platform currently serves over 50,000 registered investors, offering access to residential properties that were previously restricted to institutional players. With assets frequently selling out in under two hours, the company aims to leverage this new infrastructure to maintain its growth trajectory while meeting high retail demand.
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