Real Estate Investment and Property Management Platform Raises $ 16.3 Million



Daniel Shaked

SANTA CLARA, California – Home365, a PropTech / InsureTech residential investment and property management company in Santa Clara, California, has announced the closure of a $ 16.3 million funding round.

This round was spearheaded by Greensoil PropTech Ventures II (GSPV II) and also included investments from existing shareholders such as Eyal Ofer, OG Tech, Verizon Ventures, Lool Ventures and North First Ventures (N1V).

Home365, which has raised $ 24 million since its founding in 2016, is creating a fully automated property management platform at the heart of OneRate’s innovative business model that is revolutionizing the traditional property management industry.

Based on its own underwriting mechanism (patent pending) with machine learning, Home365 predicts maintenance, repairs and various events related to residents, while generating a fixed monthly premium that guarantees a net operating income (NOI) for the asset.

By removing risk from landlords, and through end-to-end process automation, predictive analytics and a unique management approach, Home365 provides investors with a fixed and guaranteed monthly return on investment, making all real estate investments far more profitable, predictable and passive.

“Home365 provides PropTech optimization for small and medium sized property owners, increasing margins, reducing risk and reducing the unpredictability that results from owning and operating small rental portfolios,” said Daniel Shaked, Founder and CEO of Home365. “By focusing on delivering passive and predictable financial performance, Home365 has effectively invented a new asset class that turns the risky nature of the real estate investor into an all available savings account.”

“At Home365, we see a partner with the kind of proprietary technology and underwriting software that can disrupt the property management market and deliver dramatic results in cost control, efficiency gains and asset value maintenance,” said Gideon Sousman, co-author of GSPV. Founder and Managing Partner, and New Member of the Board of Directors of Home365. “We also see a tremendous opportunity to leverage Home365 to distribute more efficient carbon-lowering products and services to more single-family homes.”

Headquartered in Toronto, GSPV is PropTech’s leading venture capital firm investing in transformative real estate technology in North America, Europe and Israel. Continuing to gain traction, Home365 also announced the acquisition of SlateHouse Property Management and Realty, one of the largest and fastest growing real estate management companies in the United States.

The acquisition was announced at the first Real Estate Hackers Conference, bringing together technology and real estate enthusiasts from around the world in Lancaster, Pennsylvania. By creating an investor-focused concierge service, Home365 now has a real estate division of 40 agents that facilitates the buying and selling of investment properties across all of Home365’s combined markets.

These realtors use Home365’s proprietary valuation tools to give investors a better understanding of the investment potential of a property based on location, building, tenant mix and more.

“SlateHouse and Home365 are creating an incredible combination of real estate investment talent and proprietary technology to provide the best returns for investors and the necessary funding to improve the lives of tenants and owners,” said Chad Gallagher, Co-Founder of SlateHouse, who will now take on the role. Director of Investment and Development at Home365. “We’re incredibly excited to introduce the Home365 tech platform to thousands of investors and transform the very traditional real estate investment and property management industry.”

One of the largest mergers in real estate management history, Home365 now operates 7,000 units in six states with local offices in 14 major metropolitan areas including Las Vegas, Atlanta, Philadelphia, Pittsburgh, Lancaster, Harrisburg, York, Reading, Scranton, Allentown, Trenton , Norfolk, Hampton and Baltimore. The real estate, which is managed by Home365, is worth over $ 1 billion.

“This unique combination of expertise creates a great opportunity for investors to diversify their portfolio across geographies, working under a single platform that delivers predictable results,” added Nate Jones, Co-Founder and CEO of SlateHouse, who will take over as Home365’s Chief Operating Officer. specializing in supporting the rapid scaling of the company to more than 100,000 units under management over the next few years.

Home365 expects to leverage recent funding to accelerate its end-to-end technology platform to provide a better experience for investors and tenants. Home365 will also use the funding to accelerate and drive its expansion based on strong demand for its technology in over 100 of the largest US markets.

Shaked added: “Leveraging SlateHouse’s amazing team, investment and scaling experience, and GSPV’s rich experience at PropTech, we are confident that Home365 is on track to become the largest and fastest growing real estate investment and property management company in the nation and globally. “

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