Real estate search engine Trulia joins an elite Silicon Valley Club today with the announcement of $10m Series C funding in a round headed by Sequoia Capital.
Trulia moved out of beta earlier this month and launched a number of new features.
Sequoia is joined in the funding round by previous investors Accel and Fayez Sarofim & Co. The $10m takes Trulia’s total funding to $17.7million. The new money is being used for additional staff, product development and a new marketing push.
There’s a wealth of potential in the real estate market. Advertising spending alone in real estate will total $11 billion in the United States in 2007 (Borrell Associates), with over 80% of the consumers using the Internet as part of their home buying research.
Trulia is not alone in chasing this market. Zillow has raised $57 million and Redfin has previously raised $9 million in two rounds. Internet Brands also is also a competitor with Real Estate ABC.
Trulia’s main features include a comprehensive database of active real estate listings, price trend heat maps, and a Q&A service.