Ownwell Secures $50 Million in Funding to Transform Property Tax Appeals for Homeowners Nationwide

In a significant move to address the ongoing property tax crisis in the U.S., Ownwell, a leading property tax technology company, announced it has successfully raised $50 million in Series B financing. This funding will further accelerate the development of its innovative services designed to assist homeowners in combating rising property taxes, ultimately making homeownership more affordable.

Funding and Future Plans

This funding round, which brings Ownwell's total financing to $74 million, included $30 million in equity led by prominent investors such as Alpha Edison and Mercato Partners, along with $20 million in debt financing from Western Alliance Bank. CEO Colton Pace expressed the company's commitment to leveling the playing field for everyday homeowners against large investment firms and real estate companies that typically have access to specialized legal and financial advice for tax savings.

"Homeownership is facing a tipping point in America. Many homeowners struggle with high property taxes, mortgage payments, and insurance costs," noted Pace. Ownwell aims to empower these homeowners with technology that simplifies the once-confusing property tax appeals process, providing them with tools that were previously accessible only to affluent property owners.

Expanding Services with the National Appeals Packet

In conjunction with the funding announcement, Ownwell introduced its new National Appeals Packet. This resource is aimed at helping homeowners outside of major service areas navigate the property tax appeal process with greater ease. Utilizing artificial intelligence and data analytics, the packet delivers a tailored, step-by-step guide tailored for each user, including instructions on how to file appeals along with the necessary supporting evidence.

Research has shown that a significant majority of homeowners are concerned about escalating property taxes, yet many have never pursued appeals due to the process’s complexity. Ownwell's technology simplifies this by automating many of the intricate steps and streamlining access to valuable local data, thereby ensuring that more homeowners realize potential savings—averaging around $774 annually.

Achievements and Impact

Ownwell's growth has been remarkable, recently surpassing the milestone of processing one million property tax appeals. The company hopes to unlock the potential of hundreds of thousands of homeowners who have previously opted out of the appeals system by providing tools that facilitate participation. For instance, it processed appeals for over 200,000 Texas properties that had not protested their taxes in 2024, demonstrating a clear capability to engage inactive property owners.

Operating under a win-contingency revenue model, Ownwell keeps its fees low at just 25% of any savings it generates for homeowners. This model ensures that the service is not only effective but also economically feasible for residents.

Investor Support and Industry Transformation

Investor confidence in Ownwell's vision is reflected in the words of Selina Troesch, Principal of Intuit Ventures: "Property tax appeals are notoriously complex, and Ownwell has constructed a customer-friendly approach that brings clarity and efficiency into the equation." Ryan Sanders from Mercato Partners adds that Ownwell isn’t just participating in the market; they are redefining it through their innovative, technology-based platform.

As Ownwell expands its offerings and enhances technology to assist even more homeowners, its mission to alleviate the pressing burden of property taxes continues to gain momentum. Homeowners now have an ally in Ownwell, who is committed to making significant strides towards financial empowerment in real estate.

For more information on Ownwell’s services, including its National Appeals Packet, visit www.ownwell.com.