Rex is a full-service licensed residential broker launched in 2015 and based in Austin, Texas. The company employs data science, machine learning and artificial intelligence to price homes and target qualified buyers through platforms like Zillow, Google, Facebook and Trulia. Rex uses salaried agents incentivized to focus on customer experience rather than commission and offers a 2% flat commission model. It also provides integrated services including escrow, titling, mortgage and insurance. The company is operating in 23 cities across 17 states and intends to broaden availability of its integrated services. Rex has raised over $115MM to date and closed a $40M Series C1 to help complete its national expansion. REX offers a fixed two percent commission and a professional team that handles listings through close, including escrow, title, mortgage and insurance services. The company uses AI and big data to bypass the traditional MLS agent model and claims to save consumers an average of 60 percent versus traditional agents. Proceeds from the Series C will be used to accelerate national expansion and add service offerings. REX has expanded from Southern California and New York into Colorado, Texas, Northern California and New Jersey, and recently into Sacramento and Portland. The company increased listings 300% year‑over‑year, representing homes cumulatively valued at over $1 billion, and says it has saved customers over $12 million in fees. To date REX has raised $75 million from prominent private investors named in the article. Rex is a fully licensed brokerage led by co-founder and CEO Jack Ryan that has built a technology platform intended to replace the conventional real estate model and provide a digital alternative for selling homes. The company charges a 2% flat fee, aiming to lower home-selling costs by leveraging big data, AI, and machine learning. Rex currently serves areas of Southern California and New York. It secured $15M in Series B funding to support growth. The company plans to use the financing to fund market roll-out data, accelerate platform automation, and continue nationwide expansion. The funding round included a group of individual backers and advisory board members.

Total raised

$100M

Funding rounds

3

Latest round

Series C

Latest activity

Nov 2019