HomeLight receives $ 363 million to rethink real estate

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Bay at the base HouseLightThe proptech platform, which aims to speed up and simplify the real estate process, announced that it has raised a total of $ 363 million in new funding.

According to a post on Thursday, the round was led by Zeev Ventures – the same venture capitalist who will lead HomeLight for $ 109 million. Series C back in 2019. Zeev was also the original investor in proptech. 2017 Serie B… Among other repeat investors in his latest round Menlo ventures, Group 11 and Stereo Capital… Lydia Jett from SoftBank Vision Fund also participated.

The round includes $ 100 million in Series D capital and $ 263 million in debt financing, which the company said raised HomeLight’s valuation to $ 1.6 billion.

HomeLight technologies live in the iBuyer world with other major players. Zillow and Opened door… The company is working to make it easier to buy a home by offering potential buyers the ability to make cash offers. It also allows sellers to access a network of pre-approved buyers to speed up the process.

HomeLight claims it has developed a “faster application and underwriting process” that allows the company to ensure it can close a loan within 21 days with “zero lender fees and transparent rates.”

Now that a new wave of funding has surfaced at the bank, HomeLight has said it plans to continue developing its flagship technology:

  • HomeLight Trade-In – Helps buyers access liquidity from their current home to purchase a new home,
  • And HomeLight Cash Offer is a service that provides buyers with the means to do this … a cash offer.

“After decades of stagnation in our industry, the way we buy and sell homes is fundamentally changing,” said Drew Ware, founder and CEO of HomeLight.

“We have proven that technology can help transform the transaction experience, and we are thrilled to bring this technology to leading agents, home buyers and sellers around the world.”

The company also announced its plans to expand new offices both nationally and internationally.

Starting with the 2019 B series, HomeLight has a pretty bottom-up projection. It has seen exponential growth over the past two years, according to the post, with annual revenue expected to triple to over $ 300 million in 2021.

In June, the company appointed Sean Aggarwal as chairman of the board. Lyft inc… and former CFO Trulia, around the same time, sources said Bloomberg the company was weighing options for entering the stock exchange.

HomeLight was last valued at $ 498 million, according to PitchBook, although the company is expected to debut the premium. The real deal reported.

“When I first took over the A HomeLight Series in 2015, I deeply believed in the team’s vision to make real estate simpler, more reliable and more satisfying for all involved,” said Oren Zeev, Founding Partner at Zeev Ventures. “Today HomeLight has delivered on that promise and more.”

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