First launched in 1998 on Microsoft Corp.'s MSN network and spun-off as its own entity in March, online mortgage service provider HomeAdvisor Technologies Inc. secured its first round of outside venture financing and formalized partnerships with industry players Chase Manhattan Corp. and GMAC-Residential Funding Corp.

Talk of the $100 million Series A deal came as early as March when Microsoft announced the company's formation and said it was developing partnerships with Chase.com, GMAC-RFC and loan purchaser Freddie Mac. When GMAC-RFC announced the formation of its own private equity vehicle in June, the asset-backed issuer also said it had made an equity commitment to HomeAdvisor.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.