E-ppraisal Attracts $3-Million Investment

E-ppraisal Inc. in Westlake Village, an Internet-based provider of valuation services for the residential real estate industry, said Provender Capital Group has invested $3 million in the company in a private placement of Series C Preferred Stock.

Provender, which invests in emerging growth companies, made the investment through its $120-million fund, Provender Opportunities Fund L.P.

Ivan Krestyn, E-ppraisal’s chief executive, said the money will be used to expand the company’s relationships with mortgage lenders and appraisers, refine its valuation technology and improve its delivery systems.

“E-ppraisal provides service to hundreds of subscribers throughout California, and plans to rapidly expand its coverage across the rest of the nation over the next 12 months,” Krestyn said.