Perchwell, a New York City-based real estate data firm that works with MLSs, brokers and agents, announced Tuesday that it has raised $25 million in a Series B financing round.

The financing round was led by Lux Capital, which also participated in the company’s Series A round. The newest round also included participation from Starwood Capital Group, Flex Capital, Stellar MLS, REcolorado MLS and the California Regional MLS.

The funds will go toward software development for MLSs and brokerages, as well as product development that incorporates artificial intelligence for data and workflow enhancements.

Perchwell’s end-to-end platform includes a suite of data management, market research and client collaboration tools for MLSs, brokers and agents.

Perchwell CEO Brendan Fairbanks was named a 2023 HousingWire Rising Star.