Chicago-based startup TurboAppeal raised $3 million to fuel expansion of its online property tax appeals service across the country, the company announced Thursday.
TurboAppeal customers submit information through its website, and the company uses a combination of big data analytics and algorithms to file evidence and complete the appeals filing. The company takes a cut of customer savings.
Chicago-based KGC Capital, the family office of William Blair senior executive Dick Kiphart, led the round. Existing investors Hyde Park Venture Partners, Hyde Park Angels and Gary Holdren, founder and former CEO of Huron Consulting Group, participated, along with Ned Jannotta Jr., formerly of GTCR Capital. Holdren also joined TurboAppeal’s board of directors.
TurboAppeal launched in early 2015 for property owners in Cook County.
Since then, the company has expanded to DuPage County and some counties in Florida and Texas. The company said it worked with more than 25,000 homeowners in its first year.
The seed funding will support TurboAppeal’s entry into other markets. The company said it plans to operate in Colorado, Georgia, Indiana, Maryland, Pennsylvania, Virginia and Washington this year.
Twitter @aminamania
More Top Picks Sanders