Groov was founded in October 2020 by Co-Founder Ryan Glick and launched in the Fall of 2022. In just a few months, Groov has gained 7 customers, currently displays over 400 lots for sale and achieved product market fit at the end Summer 2022. Groov is currently focused on sales, but will be fundraising soon. The funds will aid in onboarding companies to the platform.
What is Groov?
Groov is a platform that allows residential land developers, home builders, and home buyers to find what lots are available in their area and manage lot data efficiently. Groov utilizes AI to map developments and organize lot data, partners with developers by adding their lots to the platform, and records real time data in one place.
They are changing the game for how lots are managed and found.
There are a couple problems that Groov solves.
First, there is no other platform like this that allows users to see what lots are available. Homebuyers and builders are able to search for lots in the Groov Marketplace and view the price, location, lot number, and acreage all within an easy to understand map.
As a home builder who builds ten or more homes per year, being able to view empty lots and manage the sales process on the Groov platform enables them to acquire land efficiently and eliminates the need to hire an outside agency.
Second, land developers are currently managing their data in spreadsheets, which is not accessible to homebuilders. With Groov, land development data and images will be stored in one place. This allows the data to be synchronized in real time with company websites and easily downloaded into shareable reports.
The interactive plat map widget will give visitors access to the latest lot availability information, enabling users to generate more leads. Users will be able to easily run reports and view key data points through the platform such as how many days a lot has been on the market, how many days it’s been at a certain price point, and the company’s portfolio value, just to name a few.
Based on conversations with land developers in the Des Moines metro, Groov has identified a better way to manage lot inventory so it is easily shared. Through support and feedback from local companies, Groov has identified what markets have the biggest need for this service and how market conditions affect business.
Get Your Groov On
Groov is aiming to have at least 15 thousand lots listed for sale by the end of 2023. This will be achieved by adding companies, residential land developers, and home buyers to their marketplace. Right now, Groov is focused on capturing the Iowa and DFW markets, but as more adoption takes place Groov will expand nationally.
If you are interested in real estate prop tech and are looking to put funds to use, reach out to Ryan at [email protected].