Ownwell Raises $50M for Tax Appeals
Property tax technology company Ownwell announced it has raised $50 million in new funding. The company is also launching a national service to help U.S. property owners streamline tax appeals. Ownwell states it has already saved property owners over $400 million.
- The $50 million Series B round consists of $30 million in equity and $20 million in debt financing. The equity portion was led by Alpha Edison and Mercato Partners, with participation from Intuit Ventures and existing investors. - This latest funding brings Ownwell's total capital raised to $74 million since its founding. The company, previously known as realAppeal, was founded in 2020 by Colton Pace, Joseph Noor, and Frank DiZenzo. - Ownwell's business model is contingency-based, charging residential clients a fee of 25% of the property tax savings they secure. The company charges nothing upfront, and customers only pay if Ownwell successfully reduces their tax bill. - The company's CEO and co-founder, Colton Pace, previously worked as an investor and asset manager, where he helped manage billions in assets across venture capital and real estate. - Before this Series B, Ownwell raised a $5.75 million seed round in May 2022, which was led by First Round Capital. - The property tax industry is estimated to have $57 billion in annual overpayments, creating the market opportunity Ownwell is addressing. A 2025 survey by Ownwell found that while 74% of homeowners worry about rising property taxes, only 22% have ever appealed their bill. - As part of its national expansion, the company has launched a "National Appeals Packet" to help homeowners in states where it does not currently have local consultants file their own appeals.
