Austin-based Realized raises $6M for growth

Austin-based Realized, a wealth management platform for investment properties, said Tuesday that it has raised $6 million in its latest funding round.

Calibrate Ventures led the funding round, which the company said will go toward expanding its employee headcount and its technology. Rice Park Capital also took in the funding.

Realized CEO David Wieland said the additional capital would allow the company to serve more families, CPAs, attorneys and other potential customers. 

"When we launched Realized three years ago, our goal was to provide individual investors with a holistic, transparent solution to tax-efficiently trade out of their investment properties," Wieland said in a written statement.

Founded in 2016, the company's platform allows investors to redeploy equity from legacy investment properties into diversified passive income portfolios. The startup wants to grow its marketplace for so-called 1031 exchanges, which allow investors to defer capital gains taxes when selling property.

The company says it has facilitated $350 million in transactions. Realized currently has 31 employees and expects to have nearly 40 by the end of the year. By the end of 2020, the company aims to employ 50 people.

Kevin Dunlap, co-founder of Calibrate Ventures, will join the Realized board of directors, the company said Tuesday.

"By investing in our people, data, and technology, we are able to offer a greater number of individuals and their advisors with the opportunity to tax-efficiently diversify their real estate holdings," Wieland said. "We’re thrilled to have Calibrate Ventures and Rice Park Capital as investors in Realized."