The San Francisco-based tech company is opening a new regional center in Tampa and plans to hire more than 100 employees.
HomeLight, a platform that directs home buyers and sellers to agents and other services, announced Monday that it will host Florida operations of its title and escrow unit, HomeLight Closing Services, in the Westshore area of Tampa.
The company’s offices at Concourse Center, 3507 E Frontage Road, will become its headquarters in what it considers to be a key fast-growing market. HomeLight plans to hire about 100 new employees in Tampa, more than three times its local staff, and an additional 500 employees across Florida.
“We live in all 50 states, but much of our growth – I’m talking north of 50 percent – comes from the big three, namely California, Texas and Florida,” said Ankur Bansal, president of HomeLight. Closing services. “If I look next year, Florida is the most suitable market for our product.”
While HomeLight is a digital enterprise, Bansal said it needs to operate in key markets to comply with state and local regulations, understand local trends, and better communicate with agents.
“We really try to be as close to the agent as possible,” Bansal said. “We’re not trying to replace them; we try to help them with technology. This should be, in part, where our agents are. Agents are local businesses. If our agents are in Tampa, we need to be in Tampa. “
The company viewed Miami and other cities as a hub, Bansal said, but chose Tampa because of its culture, affordability, and talent. He chose the Westshore area because of its proximity to other real estate and title companies, making it easier to recruit new employees. The company expects to hire not only representatives of the real estate sector, but also law firms and banks.
The 3,500 square foot Concourse Center HomeLight is leased, nearly triple the size of Tampa’s previous year. But the company has the option to rent out the entire floor up to 20,000 square feet. Bansal believes that if their hiring goes according to plan, they can do it within a few years.
HomeLight CEO Drew Uger said he expects the company’s revenues to exceed $ 300 million in 2021, and the company is considering an initial public offering.