Property Tax Startup Ownwell Raises $80M
Ownwell, a startup that helps homeowners manage and reduce property tax bills, has secured $30 million in new funding. The company also raised an additional $50 million to launch a national service to streamline property tax appeals.
- The recent capital infusion consists of $30 million in Series B equity co-led by Alpha Edison and Mercato Partners, with participation from Intuit Ventures, and $20 million in debt financing from Western Alliance Bank, bringing the company's total funding to $74 million. - Founded in 2020 by CEO Colton Pace and CTO Joseph Noor, Ownwell aims to provide homeowners with the same level of property tax expertise that large investment firms and real estate companies utilize. - The company operates on a contingency fee model, charging clients 25% of the savings it secures on their property tax bills, with no upfront costs. - To date, Ownwell has processed over 1 million appeals and has saved its customers more than $400 million in property taxes. - In its primary service areas, the company reports an 86% success rate, with customers saving an average of $774 annually. - A 2025 survey by Ownwell found that while 74% of homeowners worry about rising property taxes, only 22% have ever appealed their assessment, highlighting a significant market opportunity. - Beyond its full-service offering in states like Texas, Florida, and California, Ownwell has launched a "National Appeals Packet" that uses AI to provide homeowners in other areas with the data and instructions needed to file their own appeals. - In addition to property tax appeals, the company offers services to help reduce other homeownership costs, including mortgage, insurance, and energy bills.
