Auction hosting site Auction.io acquires home-bidding platform Doorsey
— Dallas, Texas-based auction software company Auction.io acquired real estate tech platform Doorsey. Terms of the deal were not disclosed.
Spokane, Wash.-based Doorsey aims to make real estate transactions more transparent through a home-bidding platform that displays real-time prices and sales terms.
Doorsey raised a $4.1 million seed round in 2021. Investors include Agya Ventures, Liquid 2 Ventures, SRM Development, The Hustle founder Sam Parr, among others.
Doorsey CEO Jordan Allen previously led Stay Alfred, an apartment rental startup that shut down in 2020 due to the pandemic.
Founded in 2021 by Raj Rajaram, Auction.io helps businesses facilitate auctions through white-labeled marketplace software. Allen will join Auction’s board.
The acquisition comes as the broader real estate market has struggled, part of a prolonged slowdown brought on by higher mortgage rates and lack of supply.