Bowery Valuation

Bowery Valuation is a technology-enabled commercial real estate appraisal firm that leverages proprietary software solutions to streamline the appraisal process. Founded in 2017, the company launched its initial business in New York City and later expanded to the Washington, DC market in 2019. Following a brief pause due to the Covid-19 pandemic, Bowery Valuation accelerated its growth in 2020 and 2021, fueled by a USD 35 million Series B funding round in June 2021.

The company's core offering is a vertically integrated appraisal platform that integrates public records, a mobile inspection app, machine learning, and exhaustive databasing. This platform enables Bowery Valuation's in-house appraisers to produce reports more efficiently, faster, and with higher quality compared to traditional methods. The technology streamlines the appraisal process, eliminating manual tasks and providing consistent language across reports.

Bowery Valuation's business model focuses on delivering appraisals to banks and lenders more efficiently than industry norms. The company claims its approach can reduce turnaround times from the typical three to four weeks to as little as 10 days to two weeks, allowing borrowers to access capital faster. As of March 2022, Bowery Valuation employed 250 people and had plans for further hiring.

In July 2023, Bowery Valuation closed a USD 16.3 million extension of its Series B funding, bringing the total raised to over USD 80 million. The company intended to use these funds for further national expansion, with plans to open offices in the Midwest, Southwest, and Southeast regions.