"True Footage launched in 2021 with a thesis that appraisal quality and turn times could be improved by combining W-2 staff appraisers with standardized data collection and software rather than relying on traditional appraisal management company (AMC) models."
"According to Liss, the model is designed to tighten some of the most judgment-heavy parts of the valuation process, including time adjustments, market analysis, comparable selection and feature adjustments."
"The raise comes as the appraisal industry faces what Liss described as the most consequential period since the mid-2000s, driven by appraisal modernization efforts and rapid advances in AI."
True Footage secured a $40 million Series C funding round led by Cox Enterprises' Socium Ventures. The company aims to enhance its staff appraiser model and data analytics platform. Founded in 2021, True Footage focuses on improving appraisal quality and turn times by utilizing W-2 staff appraisers and standardized data collection. The company has completed millions of appraisals, leveraging its platform, TrueTracks, to provide analytics to appraisers. The appraisal industry is undergoing significant changes due to modernization efforts and advancements in AI, with upcoming updates like the Uniform Appraisal Dataset (UAD) 3.6.
Read at www.housingwire.com
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