Total amount raised
$92.5 Millions
Latest funding date
08/01/2022
Location
Doorvest has successfully raised funds through a Series A round, attracting the support of 18 investors, including Unpopular Ventures and Pollen Street Capital. The company offers a streamlined platform for owning income-generating homes entirely online.
Keep reading to explore the intricacies of Doorvest's fundraising journey and the investors backing this innovative platform.
What Is Doorvest?
Founded in 2020, Doorvest is a real estate investment company based in San Francisco, California. The company was established by Andrew Luong and Justin Kasad.
Doorvest operates in the asset management, financial services, and real estate investment industries. With an employee count ranging from 11 to 50, the company offers a full-service platform that simplifies the process of owning income-generating rental homes entirely online.
By handling everything from sourcing and renovating homes to managing them, Doorvest enables busy professionals to build passive income and equity without the typical hassles of property management.
How Much Funding Has Doorvest Raised?
- Pre-Seed Round
- Amount Raised: $1M
- Date: September 2020
- Lead Investors: Mucker Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its platform.
- Seed Round
- Amount Raised: $2.5M
- Date: January 2021
- Lead Investors: Mucker Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Series A
- Amount Raised: $14M
- Date: November 2021
- Lead Investors: M13
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Debt Financing
- Amount Raised: $25M
- Date: November 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and operational needs.
- Debt Financing
- Amount Raised: $50M
- Date: June 2022
- Lead Investors: Pollen Street Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To simplify real estate investing and make long-term wealth accessible for average Americans.
- Series A
- Amount Raised: Not publicly disclosed
- Date: August 2022
- Lead Investors: Unpopular Ventures, Pollen Street Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance Doorvest's capabilities in providing institutional-grade real estate deals to everyday investors.
Total Amount Raised: $92.5M
Current Valuation: Not publicly disclosed
Key Investors
- Mucker Capital
- Details: Mucker Capital is a venture capital firm based in Santa Monica, California. They focus on early-stage investments and have a hands-on approach to helping startups grow.
- Investment Focus Areas: Technology, Internet, Software
- Notable Investments: Honey, ServiceTitan, Emailage
- M13
- Details: M13 is a venture capital firm that provides funding and support to early-stage companies. They are known for their expertise in consumer technology and brand building.
- Investment Focus Areas: Consumer Technology, Health and Wellness, Fintech
- Notable Investments: Ring, Daily Harvest, Rothy's
- Pollen Street Capital
- Details: Pollen Street Capital is a private capital asset manager that partners with businesses to provide financial support and strategic guidance. They focus on creating long-term value through their investments.
- Investment Focus Areas: Financial Services, Real Estate, Lending
- Notable Investments: Shawbrook Bank, Capitalflow, Aryza
- Unpopular Ventures
- Details: Unpopular Ventures is an investment firm that focuses on backing innovative startups. They aim to support companies that have the potential to disrupt traditional industries.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
What's Next for Doorvest?
Doorvest is poised for significant growth as it expands into new markets like Houston, Dallas, and Atlanta. With $50 million in debt financing, the company aims to increase the number of properties under management, making real estate investment more accessible to average Americans.
Future fundraising opportunities are likely, given the company's growth trajectory and the rising interest in real estate as a passive income source. Strategic partnerships with financial institutions could further bolster their expansion efforts.
However, Doorvest may face challenges such as market fluctuations and competition from other platforms. Managing property renovations and tenant placements will also require careful oversight to maintain their streamlined investment process.
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