Venture Capital: Proptech Platform HomeLight Scores $100M Round

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.


Latest Alternative Investment News
FinTech: Pluto Inks Collaboration With Mastercard For B2B Payments In The UAE
December 1, 2023     FinTech, News

Pluto, a prominent provider of financial corporate spend management solutions in the UAE, has forged a strategic alliance with Mastercard (NYSE: MA), the global technology giant in the payments sector….
Alternative Investments/Real Estate: Alternative Investing Platform Yieldstreet Acquires Real-Estate Focused Cadre
December 1, 2023     Alternative Investments, News, Real Estate

Yieldstreet, a prominent private market investment platform, has officially announced its acquisition of Cadre, an online real estate-focused investment platform catering to institutional and high net worth investors. This strategic…
Venture Capital: Rocket Propulsion Startup Ursa Major Lands $138M
December 1, 2023     News, Venture Capital

Ursa Major Technologies recently closed its Series D and D-1 funding rounds, securing a substantial $138 million investment led by Explorer 1 Fund and Eclipse, with participation from RTX Ventures,…
Artificial Intelligence: Saudi Venture Fund Forced To Sell Shares In Altman-Backed Chip Startup Rain AI
December 1, 2023     Artificial Intelligence, Latest News, News

The Biden administration has compelled Saudi Aramco (TADAWUL: 2222)-backed venture capital firm, Prosperity7, to divest its shares from Rain Neuromorphics, a Silicon Valley AI chip startup supported by Sam Altman,…