Closing Theory, a promising real estate game company, has successfully raised $2.4 million in a seed funding round with support from prominent investors in the real estate industry. Spearheaded by Ankith Harathi and Nitin Rajinikanth, the startup caught the attention of high-profile figures like Josh Altman, a star from “Los Angeles,” and co-founder of Matterport cameras and Pacaso, who found the concept intriguing and decided to invest.
Closing Theory stands out among other real estate games as it utilizes real-world properties, housing prices, and data to create an immersive experience for users, transforming them into virtual real estate moguls. Altman expressed enthusiasm about the unique approach, citing that while there are various real estate games available, none integrate actual properties from around the world.
Although Altman did not disclose the exact amount of his investment, he conveyed confidence in the company’s potential for greatness. His investment was joined by Keller Capital, the private investment arm for Keller Williams founder Gary Keller; real estate coach Tom Ferry; and Spencer Rascoff, co-founder of Zillow and Pacaso. Rascoff, who was a small angel investor in Closing Theory’s initial funding round, remarked that he would have liked to invest more, but the round was already oversubscribed.
Ankith Harathi and Nitin Rajinikanth, the co-founders of Closing Theory, previously worked together at Macro, a company focused on bringing entertainment elements to video conferencing using filters and reactions. Macro was acquired by video presentation company Mmhmm in 2021.
Closing Theory’s journey was propelled by the support of the prestigious Andressen Horowitz, which hosted a six-week gaming accelerator called Speedrun in the spring. The startup’s association with Andressen Horowitz garnered attention from investors, and the seed round quickly secured $2.4 million in funding.
Spencer Rascoff expressed his belief in the potential of a real estate game for smartphones, combining the popularity of real estate and mobile gaming. He is confident that Closing Theory has the potential to create the first massively successful real estate game on mobile devices. With strong backing from influential investors, Closing Theory is well-positioned to thrive in the growing market for real estate gaming.