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Austin-based closed on a $62.5 million round of funding led by , the company said Wednesday in a release.

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OJO Labs, founded in 2015, combines human and machine intelligence to provide personalized property recommendations and insights.

, , and also participated in the new round of capital that gives OJO Labs a of $71.5 million, according to Crunchbase data. The company鈥檚 last funding round was a in March 2019.

鈥淭he way people buy and sell homes is changing,鈥� , founder and CEO of Breyer Capital, said in a written statement. 鈥淭his evolution has been expedited by recent events, and the real estate industry is on the cusp of something new in the wake of COVID-19. With a clear vision for the future and the technology to back it up, I believe OJO Labs is poised to be a leader in the next era of the homebuying industry.鈥�

In addition to the investment, OJO Labs announced the acquisition of San Mateo, California-based , a residential real estate search site boasting nearly 24 million monthly visits. The acquisition amount was not disclosed. Movoto is OJO Labs鈥� in the past two years.

Speaking about the acquisition, OJO Labs co-founder and CEO said Movoto鈥檚 search capabilities made them a good fit.

鈥淚t is the company鈥檚 ability to optimize search based on consumer behavior and engagement that has enabled them to compete with three massive, publicly traded companies while steadily gaining market share since 2018,鈥� Berkowitz said in a written statement.

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