Tomo Networks secures $40m in seed capital

PropTech startup Tomo Networks has picked up $40m in seed capital to grow its digital mortgage solution.

The Seattle-based company is founded by former executives at Zillow, the online real estate database company.

“We dream about the life we will build in our new home, yet dread the process to get there,” the company describes its mission. “Tomo will give us what we want: the efficiency of a tech-enabled real estate transaction and the confidence of having a team of elite experts on our side.”

Ribbit Capital, NFX and Zigg Capital invested in Tomo Networks. A smattering of angel investors also participated in the raise, including hedge funders Alex Sacerdote, Kurt Mobley and Eli Weinberg; former Zillow CEO Spencer Rascoff; and Ted Ackerley of Seattle-based Ackerley Partners.

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