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Redfin, the Seattle-based online real estate brokerage that's shaken up the industry by offering deep commission discounts to consumers, has secured another $12 million in venture capital funding and announced expansion in the East Coast.
Redfin rebates a portion of its commission back to home buyers in exchange for buyers doing most of the research themselves, and on the sell-side offers to list homes for a flat rate. The company claims to have saved home buyers nearly $6 million in commissions since its last round of financing in May 2006.
Some of Draper Fisher Jurvetson's previous investments include Skype, Overture, Hotmail and Baidu.
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