Vector Group-backed New Valley Ventures to invest in Humming Homes.

Vector Group-backed New Valley Ventures, an investment vehicle, agreed to invest in Humming Homes, a home management platform. Financial terms were not disclosed. “New Valley Ventures is dedicated to investing in new tech-enabled services that will benefit real estate agents and their clients and customers. We are in the midst of a rapid demographic shift in home buying as well as unprecedented demand in second home purchases across vacation markets and primary homes in dense suburban neighborhoods. As more home buyers, especially millennials, reach their peak home buying years and are increasingly interested in purchasing single-family homes, the home management market will need to rapidly evolve. Not only does Humming Homes meet the needs of this demographic with a service centered on a best in class mobile consumer experience, but it provides our agents another tool in their toolkit to share with their clients that ultimately eases the burden of managing a home," Dan Sachar, New Valley Ventures Managing Director.