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Ryan Serhant: My first 2 apps failed; raised $45M from VCs for third

Jan 03, 2025 - businessinsider.com
Ryan Serhant's brokerage firm, SERHANT, raised $45 million in its first equity funding round from Camber Creek and Left Lane Capital to expand its AI platform, S.MPLE. The app, launched in January, is designed to simplify administrative tasks for real estate agents, allowing them more time to focus on sales. Despite previous failures with app ventures UNIVERS and SPACES, Serhant learned from his mistakes and emphasized the importance of listening to customer feedback. S.MPLE has already saved SERHANT's agents significant time in administrative work, streamlining processes like contract management and CRM metrics.

Serhant's journey in app development highlights his resilience and adaptability. He acknowledged that his earlier apps did not address immediate needs for agents, leading to their lack of success. However, these experiences taught him valuable lessons about app development and customer needs. Now more knowledgeable about technology, Serhant is committed to creating useful tech solutions for real estate agents, comparing the process to getting a lawnmower started—requiring persistence and understanding.

Key takeaways:

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  • Ryan Serhant's firm, SERHANT, raised $45 million in its first equity funding round to grow its AI platform S.MPLE.
  • S.MPLE is an AI-powered app designed to simplify administrative tasks for real estate agents, saving significant time.
  • Serhant's previous app ventures, UNIVERS and SPACES, failed due to not addressing immediate problems for users, teaching him the importance of listening to customer feedback.
  • Serhant's perseverance in app development is driven by his belief in creating useful technology for real estate agents, learning from past failures to improve future projects.
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