Venture Capital: Proptech Platform HomeLight Scores $100M Round

https://dailyalts.com/wp-content/uploads/2021/09/spring-846051_640.jpg

The Series D valued HomeLight at $1.6 billion, placing it in the ‘unicorn’ club.’

HomeLight, a real estate technology platform that makes it easy to buy or sell a home by partnering with the right agent, raised a $100 million Series D capital round and $263 million in debt financing. The equity round valued the proptech at $1.6 billion, was led by existing investor Zeev Ventures and included participation from Group 11, Stereo Capital, Menlo Ventures and Lydia Jett of the SoftBank Vision Fund. (TechCrunch)

The startup claims on its website that it counts 28,000 of the top real estate agents on its roster, supports over $1 billion of real estate transactions on its platform annually, and has more than a million clients across the US.

HomeLight founder and CEO Drew Uher told TechCrunch that in 2021 the platform is expecting annual revenue of over $300 million in 2021 – and that it represented 3X growth over 2020.

Its flagship products, HomeLight Trade-In and HomeLight Cash Offer, have grown 700% since launch in January 2020.

Use of funds

HomeLight plans to use the funds to expand the reach of these products to the rest of the country from their current markets in California, Texas, and Colorado.

Uher also said the company plans to “hire aggressively in 2021 and beyond.” The startup presently has about 500 employees on its rolls.

“It’s clear that agents need our products to compete and win in a tech-enabled world,” Uher said to Bloomberg. “Our growth is limited primarily by how fast we can expand operations and headcount.”

The new funding will also enable the company to enhance its technology platform.

Related Story: ETFMG To Launch “PropTech”-Focused ETF

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2022/06/gases-2071091_640.png
Venture Capital/ESG: Brookfield Raises Mammoth $15B Fund Focused On The Climate Transition To Net Zero

Brookfield Asset Management (NYSE: BAM) announced the final close of its $15 billion Brookfield Global Transition Fund, receiving investments from institutions and private wealth channels including public and private pension…

https://dailyalts.com/wp-content/uploads/2022/06/Revolut.jpg
FinTech: Revolut Launches Buy-Now-Pay-Later (BNPL) In Ireland
June 24, 2022     FinTech, News

Digital challenger bank Revolut has commenced the rollout of a BNPL offering in Ireland this week. It will compete with established BNPL players in the country such as Swedish fintech…

https://dailyalts.com/wp-content/uploads/2022/06/Solana_logo.png
Alternative Investments/Digital: Osprey Funds Launches Solana Fund On The OTCQB Market

Crypto asset manager Osprey Funds has launched the the Osprey Solana Trust (OSOL). The firm said earlier this month that the fund has commenced trading via the OTCQB market. OSOL…

https://dailyalts.com/wp-content/uploads/2022/06/uveye-screengrab.jpg
Artificial Intelligence: GM Buys Stake In UVeye For Its AI Vehicle Inspection Systems

In a move to incorporate AI into the somewhat tedious and error-prone manual vehicle inspections, GM (NYSE: GM) has taken a stake in UVeye, an Israeli startup creating vehicle inspection…