In sell of Canadian operations and debt raise, OJO Labs secures $200M

OJO Labs, the operator of a national portal and referral network, announced that it had sold its Canadian operations,, to the Royal Bank of Canada, and raised a debt round. Combined, the actions brought approximately $200 million to the company. The Austin, Texas-based company has made large, aggressive moves to become a major player in the residential real estate lead-generation and portal game. It acquired one of the nation’s most-visited real estate portals in Movoto in June 2020. It has raised approximately $134 million to date. Like many startups who have raised millions of dollars in recent years to revamp real estate, OJO Labs is looking to gain traction and a profitable model for its tech platform and real estate network. We’ll continue to monitor the company and others like it as they evolve.